Freddie Mac's Failure to Define 'Subprime' Doesn't Hamper Suit Against Former Execs

, The Litigation Daily

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Three former Freddie Mac executives have failed to persuade a U.S. district judge to dismiss an SEC suit accusing them of misleading investors about the company's exposure to subprime mortgages. The defendants, represented by Sidley Austin, Zuckerman Spaeder, and Paul Weiss, argued that Freddie Mac's offering materials didn't define "subprime."

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