Play Live Radio
Next Up:
Available On Air Stations

Appeals Court Reinstates State Pension Fund Lawsuit Against Freddie Mac

The 6th U.S. Circuit Court of appeals in Cincinnati has reinstated Ohio's lawsuit against lender Freddie Mac accusing it of defrauding a pension fund by systematically investing in sub-prime home loans. The Ohio Public Employees Retirement System sued in 2008, alleging the loss of millions of dollars. A district court previously dismissed the suit, but the appeals court says the state  provided facts to support a plausible claim.