Securities

Fannie Mae Not A Reporting Agency Under FCRA: 9th Circ.

Fannie Mae isn’t a “consumer reporting agency” as defined by the Fair Credit Reporting Act, meaning it can’t be held liable under the statute for inaccurate information generated by a computer program it licenses to mortgage lenders, a divided Ninth Circuit panel ruled Wednesday…

Read this piece in its entirety at Law360.

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Red Hat Shareholder Drops Suit Over Planned $34B IBM Sale

A Red Hat Inc. investor on Tuesday voluntarily dismissed a proposed class action in Delaware federal court that aimed to block a shareholder vote on the software company’s planned $34 billion sale to IBM…

Read this piece in its entirety at Law360.

Campbell Shareholders Say Execs Overhyped ‘Fresh’ Unit

A Campbell Soup Co. shareholder has hit the food company with a proposed class action in New Jersey federal court, alleging executives misled investors about the financial prospects of the fresh products division, causing stock prices to slide as the unit suffered tens of millions of dollars in losses…

Read this piece in its entirety at Law360.