For the second time in less than a month, a Washington federal judge has dismissed a former top Fannie Mae official from a sprawling securities fraud class action against the mortgage giant and its former officers.
U.S. District Judge Richard Leon granted summary judgment today to former Fannie Mae Executive Vice Chairman and Chief Financial Officer J. Timothy Howard, finding no evidence that Howard acted with any intent to deceive. The opinion comes on the heels of a September 20 order from Leon granting summary judgment for similar reasons to Franklin Raines, Fannie Mae’s former chairman and chief executive officer.
