Cleveland Law Library Weblog

OPERS Sues Freddie Mac in Class Action For Securities Fraud In Mortgage Industry

On behalf of the Ohio Public Employees Retirement System, commonly known as OPERS, Attorney General Marc Dann has sued Freddie Mac in Youngstown federal court, for securities fraud in the mortgage industry. The docket in the case can be found on PACER under Case No.4:2008cv00160. The nickname of Freddie Mac belongs to the Federal Home Loan Mortgage Corporation. Specifically, the suit seeks to recover millions in losses to Ohio's pensions funds caused by allegedly secret and deceptive lending practices that lead to sub-prime lending and high foreclosure rates. Click here to read the Attorney General's Press Release. Click here to read an article from the Columbus Dispatch, and click here to read an article from the Washington Business Journal.

Tic Tac Fruit Temporarily Allowed

As of Friday, Tic Tac Fruit, and other games of chance that pay out over $10.00, have a reprieve in Ohio. On Friday, Franklin County Common Pleas Judge Michael Holbrook issued an order enjoining Attorney General Marc Dann from shutting down those games. According to the Plain Dealer, the Judge's order made clear that any change in the gaming laws has to come from the State Legislature in Columbus. Later that day, however, the AG successfully appealed, and the 10th District Court of Appeals converted the trial court's order into a temporary restraining order. Click here for an article on the two rulings.

Attorney General Sues Florida Fundraiser Under Ohio's Charitable Solicitations Act

On August 15, 2007, Ohio Attorney General Marc Dann sued a Florida company named Xentel Inc., alleging that it defrauded charities in violation of Ohio's Charitable Solicitation Act contained in ORC Chapter 1716. The case, which was filed in Franklin County Common Pleas Court, Case No. 07 CV 010900, was assigned to Judge Guy Reece. Among the entities Dann claims Xentel defrauded are the Ohio Association of Chiefs of Police, the Ohio Patrolmen's Benevolent Association, the Ohio Vietnam Veterans Assistance Council and the Ohio Narcotics Officers' Association. Since the case was just filed, the docket only reflects deadlines for a status conference, disclosure of witnesses, other pre-trial assignments, and a preliminary trial date of 9/22/08. The Attorney General's office maintains a Charitable Organizations Section which enforces the Charitable Solicitation Act and has issued an Information Sheet on the provisions of the Act. Click here to read an article about the suit from the Plain Dealer online.