Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
D.C.
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Mass.
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
N.Carolina
N.Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
S.Carolina
S.Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
W.Virginia
Wisconsin
Wyoming
Law Firm Website Design Companies : The Good, The Bad, and The Ugly


Giant mortgage-buyer Freddie Mac will pay a $50 million fine to securities regulators to settle charges it manipulated earnings for three years, the Securities and Exchange Commission said Thursday. Four former Freddie executives will also pay nearly $800,000 in penalties, the SEC said. Neither the company nor the executives admitted or denied the U.S. allegations. The SEC's complaint says Freddie Mac  misreported its net income in 2000, 2001 and 2002. In a press release, the SEC said the company improperly managed earnings beginning as early as 1998.

"Freddie Mac's departure from proper accounting practices was the result of a corporate culture that sought stable earnings growth at any cost," said Linda Thomsen, the SEC's enforcement director, in a statement.

The SEC said it expects to distribute the penalty money to investors.

Freddie Mac has taken a number of steps to bolster its accounting practices. On Thursday, Freddie's chief executive, Richard Syron, said the agreement resolves the last investigation related to its earnings restatement.

"This is another milestone enabling us to focus entirely on those things that are most important -- further advancing our housing mission, effectively serving our customers and building our business for the future," Syron said.


Legal News | Breaking News | Terms & Conditions | Privacy | Lawyer Website Designer by Law Promo

ⓒ Breaking Legal News. All Rights Reserved.

The content contained on the web site has been prepared by BLN as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case.
   More Legal News
   Legal Spotlight
   Exclusive Commentaries
   Attorney & Blog - Blog Watch
   Law Firm News  1  2  3  4  5  6 
   Lawyer & Law Firm Links
San Francisco Trademark Lawyer
San Francisco Copyright Lawyer
www.onulawfirm.com
New Rochelle Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Chicago Business Lawyer
Cook County Contract Law
www.rothlawgroup.com
Canton Criminal Lawyer
Canton DUI lawyer
www.cantoncriminalattorney.com
Surry County Criminal Defense Lawyers
Yadkin County Family Law Attorneys
www.dirussolaw.com
Oregon DUI Law Attorney
Eugene DUI Lawyer. Criminal Defense Law
www.mjmlawoffice.com
Houston Car Accident Attorneys
Wrongful Death Attorneys Houston
Houston Wrongful Death
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Indianapolis personal injury lawyer
Brain injury lawyer Indianapolis
www.rwp-law.com
Eugene Bankruptcy Attorney
Bankruptcy Attorney Eugene
willamettevalleybankruptcy.com
   More Legal News  1  2  3  4  5  6
   Legal News Links
  Click The Law
  Daily Bar News
  The Legal Voice
  The Legal Report
  Legal News Post
  Crisis Legal News
  Legal News Journal
  Law Firm Logos
  Eugene Criminal Defense Law
  Attorney Web Design
  Immigration Law Web Design
  Law Firm Directory