U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 20074 \ April 9, 2007
SEC v. Federal National Mortgage Association, Civil Action No. 1:06-CV-00959 (RJL) (D.D.C.)
Notice of Proposed Distribution of $357 Million Fair Fund for the Benefit of Fannie Mae Investors
On April 9, 2007, the Securities and Exchange Commission filed an unopposed motion for an order: (i) authorizing the Commission to establish a Fair Fund Distribution Fund ("Fair Fund"), pursuant to Section 308(a) of the Sarbanes-Oxley Act, in the amount of approximately $357 million presently being held in the Court Registry Investment System account in this case; (ii) approving the Commission's proposed Distribution Plan; and (iii) appointing Rust Consulting as Distribution Agent for the Fair Fund. Under the proposed distribution plan, potentially eligible claimants will include persons or entities that purchased Fannie Mae Common or Class N Preferred stock during the period beginning January 14, 1999 through December 22, 2004. A copy of the Commission's motion and related papers is linked below.
For additional information, see Litigation Release No. 19710 (May 23, 2006).