District Court, S.D. New York August 10, 2012, No. 11 Civ. 09202 (PAC) (United States Securities & Exchange Commission v. Mudd)

OPINION & ORDER

PAUL A. CROTTY, District Judge:

On December 16, 2011, the SEC instituted this action against Daniel Mudd, Enrico Dallavecchia, and Thomas Lund (collectively, the “Defendants”), for misleading investors concerning Federal National Mortgage Association’s (“FNMA”) level of exposure to risky subprime and reduced documentation “Alt-A” loans.