Ohio Attorney General Sues Freddie Mac

Alleging that the GSE “secretly and intentionally participated in one of the largest housing investment deceptions in modern U.S. economic times,” Dann’s office filed a securities fraud class action lawsuit in federal court in Youngstown, Ohio.

The action was filed on behalf of the Ohio Public Employees Retirement System (OPERS), whose investment in securities backed by subprime mortgage loans could lead to losses as high as $27.2 million, according to a press statement released Wednesday by Dann’s office.