A federal grand jury has subpoenaed records involving Fannie Mae from plaintiffs’ counsel in a class action against the company as part of a criminal investigation.
Mark Lanier, counsel for the class suing Fannie Mae, told Bloomberg that “I think much of the materials in our case are relevant to the criminal case.” “This subpoena is the sweet spot in our lawsuit.”
Bloomberg reports that the subpoenas, issued Dec. 8 and filed yesterday in U.S. District Court in Texarkana, Texas, demand records from the Lanier Law Firm’s offices in Houston and New York. Fannie Mae said in a regulatory filing Nov. 10 that it was “cooperating fully in a Department of Justice investigation.”
Lanier stated that because almost all records in the class action case are sealed, his law firm couldn’t turn them over to investigators without a subpoena.
