McLean, Virginia-based Freddie Mac, one of the nation’s largest government-sponsored enterprises, announced this week that it plans to settle a lawsuit levied by the U.S. Securities and Exchange Commission by agreeing to pay a $50 million-settlement. The settlement is related to a SEC investigation involving the GSE’s restatement of financial results for the years 2000 through 2002.

Freddie Mac said Thursday, its desire to settle with the SEC is not an admission that the company violated federal securities laws.
“We take these charges seriously, and that’s why the Freddie Mac of today is a very different company than the Freddie Mac of the past,” said Richard F. Syron, Freddie Mac’s chairman and chief executive officer. “Today’s agreement would resolve the last investigation related to the company’s legacy restatement issues. This is another milestone enabling us to focus entirely on those things that are most important—further advancing our housing mission, effectively servicing our customers and building our business for the future.”
Click here to read Freddie Mac’s full statement on the settlement.