Goldman Sachs and Lehman Brothers named in Fannie Mae lawsuit

Risk staff
01 Oct 2006

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Two Wall Street firms are partially to blame for the Federal National Mortgage Association's (Fannie Mae) accounting malpractices, alleges a shareholder's lawsuit that was amended on September 1 to include Goldman Sachs and Lehman Brothers. The complaint claims the two firms helped Fannie Mae manipulate its earnings from 1998 to mid-2004. The lead plaintiffs include Michigan-based Wayne County Employees' Retirement System and the Milan-based Pirelli Armstrong Tire Corporation Retiree Medical

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