Fannie Mae, Freddie Mac and Lehman Brothers Preferred Stock Fraud Attorney in Fort Lauderdale, FL

Fannie Mae, Freddie Mac and Lehman Brothers Preferred Stock Fraud Overview

Experienced Florida Securities Fraud Law Firm

Representing Investors Nationwide and Throughout Latin America in Fannie Mae, Freddie Mac and Lehman Brothers Preferred Stock Claims

On September 6, 2008, the Federal Housing Finance Agency placed Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation) into conservatorship. The following week, Lehman Brothers filed for Chapter 11 bankruptcy protection. At this time, the preferred stock for each ceased paying any dividends and became essentially worthless to the investors who held them. Prior to Fannie Mae and Freddie Mac's conservatorship and Lehman Brothers bankruptcy, brokers at firms such as Wells Fargo formerly known as Wachovia, Citigroup, Merrill Lynch, Morgan Stanley, Raymond James, Smith Barney and UBS touted the preferred stock of these companies as safe investments and often represented Fannie Mae and Freddie Mac as"government backed." In truth, Fannie Mae and Freddie Mac were not backed by the U.S. government and their preferred shares as well as Lehman Brothers' were high risks investments in failing financial institutions.

Many of the clients of brokerage firms who purchased Fannie Mae, Freddie Mac or Lehman Brothers preferred stock bought these investments within an advisory account. In these fee-based accounts, a broker has an ongoing fiduciary duty to monitor investments in the account. Despite these legal obligations, many brokers were not taking any action or recommending that their clients sell their investments in these financial institutions that were in rapid demise.

At Sonn & Erez, PLC, in Fort Lauderdale, Florida, we believe that in the years and months leading up to the financial crisis of 2008, financial advisors at a variety of brokerage firms concealed Fannie Mae's, Freddie Mac's and Lehman Brothers's rapidly deteriorating financial condition and also failed to properly monitor, manage and advise clients regarding their investment holdings. We also believe that investors would not have invested in the Fannie Mae, Freddie Mac or Lehman Brothers preferred stock had they been told the truth about the dire financial problems each was facing.

Preferred Stock Claims

We want to help you recover all of your investment losses and are committed to getting the result you need. When you hire our firm, we will provide a complete review of your case to determine the best course of action moving forward. Even if you no longer own the stock, we can represent you. It is important, however, to act quickly to protect your legal rights. Most claims involving Fannie Mae, Freddie Mac and Lehman Brothers preferred shares are still timely.

Our attorneys have successfully represented investors who purchased preferred stock in Fannie Mae, Freddie Mac or Lehman Brothers, and our law firm is one of the largest in the country to focus on these types of cases. We have the financial resources needed to properly prepare and bring these lawsuits anywhere in the country. We also have a great deal of experience and understand the level of thoroughness and attention to detail it takes to achieve favorable results.

Call for a Free Consultation

If you believe that you were misled as to the risk of investing in Fannie Mae, Freddie Mac or Lehman Brothers preferred stock, we strongly encourage you to contact our firm online or call us for a free consultation. The local telephone number for our Fort Lauderdale, Florida, offices is 954-763-4700; our nationwide toll-free number is 1-866-372-8311.

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Other Frequent Case Types

• Lehman Brothers Principal Protected Notes Fraud in Fort Lauderdale, FL

Areas of Practice

• Fannie Mae, Freddie Mac and Lehman Brothers Preferred Stock Fraud
• Securities Law
• Civil Litigation