LABATON SUCHAROW LLP, BERMAN DEVALERIO, AND KAPLAN FOX & KILSHEIMER LLP ANNOUNCE SUMMARY NOTICE OF PROPOSED CLASS ACTION SETTLEMENT AND REQUESTS FOR ATTORNEYS' FEES AND EXPENSES IN THE IN RE FANNIE MAE 2008 SECURITIES LITIGATION (S.D.N.Y. NO. 08-CV-7831 (PAC))

NEW YORK, Dec. 17, 2014 /PRNewswire/ -- TO: ALL PERSONS AND ENTITIES THAT, DURING THE PERIOD BETWEEN NOVEMBER 8, 2006 AND SEPTEMBER 5, 2008, INCLUSIVE (THE "CLASS PERIOD"), EITHER ON THE SECONDARY MARKET OR THROUGH AN ORIGINAL OFFERING PURSUANT TO A REGISTRATION STATEMENT OR PROSPECTUS: (I) PURCHASED OR ACQUIRED FANNIE MAE COMMON STOCK AND/OR COMMON STOCK CALL OPTIONS, AND WERE THEREBY DAMAGED; AND/OR (II) SOLD FANNIE MAE COMMON STOCK PUT OPTIONS, AND WERE THEREBY DAMAGED (THE "COMMON STOCK CLASS"); AND/OR (III) PURCHASED OR ACQUIRED FANNIE MAE PREFERRED STOCK DURING THE CLASS PERIOD, AND WERE THEREBY DAMAGED (THE "PREFERRED STOCK CLASS") (TOGETHER, THE "SETTLEMENT CLASSES").

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an order of the Court, that the Settlement Classes in the above-captioned litigation (the "Action") have been preliminarily certified for the purposes of settlement only and that a Settlement between (i) the Massachusetts Pension Reserves Investment Management Board and State Boston Retirement Board, as Lead Plaintiffs for the Common Stock Class, and Tennessee Consolidated Retirement System, as Lead Plaintiff for the Preferred Stock Class (collectively, the "Lead Plaintiffs"); (ii) Federal National Mortgage Association ("Fannie Mae"); and (iii) the Federal Housing Finance Agency, as Conservator for Fannie Mae (together with Lead Plaintiffs and Fannie Mae, the "Settling Parties"), in the amount of $170,000,000 in cash, has been proposed by the Settling Parties.

A hearing will be held before the Honorable Paul A. Crotty of the United States District Court for the Southern District of New York in the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, Courtroom 14C, New York, NY 10007-1312 at 3:00 p.m. on March 3, 2015 to, among other things: (i) determine whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (ii) determine whether, thereafter, this Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement, dated as of October 24, 2014; (iii) determine whether the proposed Plan of Allocation for distribution of the Settlement proceeds should be approved as fair and reasonable; (iv) consider the application(s) of Lead Counsel for awards of attorneys' fees and payment of litigation expenses; and (v) determine such other matters as the Court may deem appropriate.  The Court may change the date of the hearing without providing another notice. 

IF YOU ARE A MEMBER OF THE COMMON STOCK CLASS AND/OR THE PREFERRED STOCK CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO SHARE IN THE NET SETTLEMENT FUND.  If you have not yet received the full printed Notice of (I) Proposed Class Action Settlement and Plan of Allocation; (II) Settlement Hearing; and (III) Requests for Awards of Attorneys' Fees and Litigation Expenses (the "Notice") and a Proof of Claim and Release form ("Proof of Claim"), you may obtain copies of these documents by contacting the Claims Administrator:

FANNIE MAE 2008 SECURITIES LITIGATION
c/o A.B. DATA, LTD., PO BOX 173002
MILWAUKEE, WI  53217
800-949-0192, www.FannieMae2008Litigation.com, info@FannieMae2008Litigation.com

Inquiries, other than requests for information about the status of a claim, may also be made to Lead Counsel:

LEAD COUNSEL FOR THE COMMON STOCK CLASS

LEAD COUNSEL FOR THE PREFERRED STOCK CLASS

LABATON SUCHAROW LLP

Thomas A. Dubbs, Esq.

Louis Gottlieb, Esq.

140 Broadway

New York, NY 10005

Tel:  888-219-6877

www.labaton.com

BERMAN DEVALERIO

Glen DeValerio, Esq.

Daniel E. Barenbaum, Esq.

One Liberty Square

Boston, MA 02109

Tel:  800-516-9926

www.bermandevalerio.com

KAPLAN FOX & KILSHEIMER LLP
Frederic S. Fox, Esq.
Donald R. Hall, Esq.
850 Third Avenue, 14th Fl.
New York, NY 10022
Tel:  800-290-1952
www.kaplanfox.com




If you are a Member of the Settlement Classes, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim, postmarked or received no later than April 3, 2015.  In addition to mailing your Proof of Claim, you can also visit www.FannieMae2008Litigation.com to complete and file a Proof of Claim online.

To exclude yourself from the Settlement Classes, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice so that it is received no later than February 2, 2015.  If you are a Member of the Settlement Classes and do not exclude yourself, you will be bound by the Final Order and Judgment.

Any objections to the proposed Settlement, Plan of Allocation, and/or application(s) for attorneys' fees and payment of expenses must be filed with the Court and served on counsel for the Settling Parties in accordance with the instructions set forth in the Notice, so that they are received no later than February 2, 2015

If you are a Member of the Settlement Classes and do not timely submit a valid Proof of Claim, you will not be eligible to share in the Net Settlement Fund, but you nevertheless will be bound by the Final Order and Judgment.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the Settlement, you may contact Lead Counsel at the addresses listed above. 

DATED:  DECEMBER 17, 2014                     

BY ORDER OF THE COURT


UNITED STATES DISTRICT COURT


SOUTHERN DISTRICT OF NEW YORK

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/labaton-sucharow-llp-berman-devalerio-and-kaplan-fox--kilsheimer-llp-announce-summary-notice-of-proposed-class-action-settlement-and-requests-for-attorneys-fees-and-expenses-in-the-in-re-fannie-mae-2008-securities-litigation--300011424.html

SOURCE Labaton Sucharow LLP, Berman DeValerio, and Kaplan Fox & Kilsheimer LLP

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