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: Bodily Injury Blog

Subprime Collapse Triggers Wave of Class Actions

By Edward Bills

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Fannie Mae, Freddie Mac and other financial firms hid their true fiscal health in order to boost stock offerings, a new wave of shareholder class actions claims. According to the lawsuits, the financial firms and their executives violated responsibilities to shareholders by failing to disclose their exposure to risky subprime mortgage investments. Among the firms named in the latest filings are Freddie Mac, Fannie Mae, Morgan Stanley, Merrill Lynch, Goldman Sachs & Co., UBS Securities LLC and Wachovia Capital Markets LLC.

Full post as published by Bodily Injury Blog on October 13, 2008 (boomark / email).

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