(Bloomberg) Fannie Mae and KPMG LLP agreed to pay $153 million to settle an eight-year-old investor class action, according to Ohio Attorney General Mike DeWine, whose state’s employee pension fund was a plaintiff in the case.
Shareholders sued Washington-based Fannie Mae over a $6.3 billion overstatement of earnings, alleging that the company and its auditor, the accounting firm KPMG, were involved in issuing false and misleading financial reports in violation of federal securities law.
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