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Court revives OPERS lawsuit against Freddie Mac over subprime exposure

FreddieMac is facing a revived lawsuit from the over allegations that the government-sponsored enterpriseconcealed about $227 billion of exposure to subprime and other low-qualityloans prior to the financial crisis, Reuters reported.

The 6th U.S. Circuit Court of Appeals reinstated the lawsuitafter it overturned findings by a lower court that OPERS did not plausibly claimthat failures by Freddie Mac and its officials to make such disclosures led tothe pension fund losing money in Freddie Mac stock, according to the report.

A Freddie Mac spokesman said the company does not comment onpending litigation, the news outlet said.