Freddie Mac Granted Dismissal of Class Action Suit

""Freddie Mac"":http://www.freddiemac.com/ has emerged as the victor in a legal battle over alleged securities fraud.

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Originally filed in August 2008, the putative class action lawsuit against the government-sponsored enterprise (GSE) was dismissed with prejudice in a New York district court.

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The recent decision follows an April 2011 proceeding in which an earlier version of the plaintiffs' claims were dismissed, with the plaintiffs retaining leave to file an amended complaint.

However, the most recent filing was found to be ""legally defective"" by Judge John Keenan of the ""U.S. District Court for the Southern District of New York"":http://www.nysd.uscourts.gov/.

Supporting the GSE's ""motion to dismiss, with prejudice, all claims asserted against Freddie Mac and certain of its former senior officers,"" Judge Keenan also denied the plaintiffs' attempt to file a Third Amended Complaint in the case.

Additionally, the judge rejected claims that Freddie's public disclosures from November 20, 2007, to September 7, 2008, were materially false or misleading.

""We are very pleased with the court's decision and with Judge Keenan's thoughtfully reasoned opinion,"" concluded William McDavid, EVP, general counsel, and corporate secretary for Freddie.