U.S. District Court Dismisses Fannie (FNMA), Freddie (FNMA) Shareholder Suit

Fannie Mae (OTCBB: FNMA) and Freddie Mac (OTCBB: FMCC) are on watch Tuesday following news that a shareholder suit was dismissed.

According to reports, a judge for the U.S. District Court in Iowa dismissed a shareholder suit that was brought against the Federal Housing Finance Agency and the U.S. Treasury Department for treatment of profits related to the two mortgage giants.

The FHFA and Treasury were sued by Fannie and Freddie holders based on the government's 2012 decision to sweep nearly all of the two companies profits into the Treasury.

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