LITTLE ROCK, Ark., March 8, 2005 (PRIMEZONE) -- Emerson Poynter LLP a national law firm with offices in Houston, Little Rock, and Seattle, announced today that it learned of possible violations of the Employee Retirement Income Security Act of 1974 ("ERISA") concerning the Federal National Mortgage Association ("Fannie Mae" or the "Company")(NYSE:FNM). The alleged violations relate to investments in Company stock by the Federal National Mortgage Association Employee Stock Ownership Plan (the "ESOP") from October 11, 2000, through the present (the "Class Period").
Emerson Poynter's focus relates to concerns that Fannie Mae and other fiduciaries for the Plan may have failed their duties and obligations under ERISA to protect Plan assets, ensure that Plan assets are invested prudently, and provide participants with complete and accurate information about Plan investment options. A breach also may have occurred if the fiduciaries failed to disclose complete and accurate information to employees regarding the Company's business and financial results and operations, such that they could make informed decisions regarding investment in Fannie Mae stock.
Emerson Poynter LLP has substantial experience representing Plan Participants in retirement plan class action lawsuits and investors in shareholder lawsuits. The firm represents investors and retirement Plan Participants throughout the nation in such actions as Pfizer, Aon, Enron, Reliant Energy, Goodyear, The Hartford Group, Cardinal Healthcare, ADC Telecommunications, and Winn-Dixie. The firm has offices in Houston, Little Rock, and Seattle, but represents investors and retirement Plan Participants throughout the nation.
If you are a member of the Fannie Mae-sponsored ESOP and are concerned about your legal rights and your investments in the ESOP, please contact us by calling toll-free at 1-800-663-9817 or via e-mail at epllp@emersonpoynter.com.