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Fannie Mae: more of the lawyers' picnic

Filed in archive litigation by leon on April 24, 2007

At the end of last year I looked at how the Fannie Mae scandal had turned into litigation city with the mortgage giant suing its auditor KPMG and regulators going for the group's former leaders.

Now, as expected, KPMG has hit back. It is suing Fannie Mae for "fraudulent deception", reports Bloomberg.

Whereas Fannie Mae reckons KPMG is guilty of "accounting malpractice links

", the auditors have accused Fannie Mae of not disclosing information and of "repeatedly, systematically and intentionally" misleading them.

Just your standard corporate catastrophe - one side blaming the other. This will take years to sort out.

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Add your response to Fannie Mae: more of the lawyers' picnic: Response from: BizzBites.com The lawyers’ picnic at Fannie Mae continues. Lawsuits are flying everywhere and now the auditors at KPMG are suing Fannie Mae for withholding information. Response from: IndianPad Fannie Mae: more of the lawyers' picnic posted at IndianPad.com Response from: news.fatpitchfinancials.com The lawyers� picnic at Fannie Mae continues. Lawsuits are flying everywhere and now the auditors at KPMG are suing Fannie Mae for withholding information. Response from: The lawyers’ picnic at Fannie Mae continues. Lawsuits are flying everywhere and now the auditors at KPMG are suing Fannie Mae for withholding information.
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Fannie Mae: more of the lawyers' picnic

Filed in archive litigation by leon on April 24, 2007

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