WASHINGTON, April 14, 2015 /PRNewswire/ -- The SEC's 2011 case concerning Freddie Mac's subprime loan disclosures was concluded today on terms favorable to three former Freddie Mac executives. Federal District Court Judge Richard Sullivan approved a negotiated resolution between the parties that contained no disgorgement, no civil penalty, and no admission of any wrongdoing.
Steven M. Salky of Zuckerman Spaeder LLP, who represented Patricia Cook, issued the following statement:
"We are extremely pleased with this resolution. While at Freddie Mac or elsewhere, Ms. Cook has never signed the forms she now has agreed not to sign. In addition, she is not paying anything out of pocket; insurance will pay her agreed-to donation. Extensive discovery of facts led to this favorable outcome."
For more information, please contact Steven Salky at 202-778-1828.
SOURCE Zuckerman Spaeder LLP