Former Fannie Mae chief executive Daniel Mudd will not be able to get out of the lawsuit initiated by the U.S. Securities and Exchange Commission (SEC), a federal court decided last week. Despite his efforts to be released from the suit, the judge found that the SEC had evidence which supported its claims that Mudd had made misleading statements regarding the mortgagor’s exposure to subprime mortgage loans before the financial crisis of 2008. See what the court had to say here.
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