Judge refuses to dismiss cases against former Freddie Mac execs

04/1/2013 | Reuters

U.S. District Judge Richard Sullivan sided with the Securities and Exchange Commission in refusing to dismiss most charges against a group of former Freddie Mac executives. The court rejected claims by Richard Syron, former CEO at Freddie Mac, and Patricia Cook, former chief business officer, that the availability of quantitative data should counteract any statements they may have made allegedly misrepresenting the company's exposure to subprime mortgage loans. The court also permitted the case against another executive, Donald Bisenius, to continue.

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