Investors win $153M settlement against GSE

Fannie Mae and KPMG have agreed to pay $153 million to investors who bought the enterprise’s stock from 2001 to 2004, a period when Fannie’s regulator determined the firm had overstated its income and violated generally accepted accounting principals. 

The settlement was announced by the Ohio attorney general Mike DeWine, who had served as lead plaintiff in the case, representing state pension funds that owned the stock.

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