Friday, July 1, 2011

WaMu Settles for $208.5 million

Washington Mutual Inc. and other co-defendants agreed to settle a consolidated shareholder class-action lawsuit for $208.5 million, putting behind it one chunk of the failed thrift's litigation issues, according to the Journal.

The suit in federal court in Seattle was the consolidated version of several other class-action lawsuits filed by shareholders, in multiple courts, that all essentially alleged that Washington Mutual failed to stop them from investing when the now-failed thrift knew, or should have known, how much trouble it was in.

Some of the lawsuits were actually filed long before the thrift's collapse, though the plaintiffs regularly updated the consolidated case to ...

Find out more now at http://online.wsj.com/article/SB10001424052702304584004576419740497824126.html?mod=WSJ_business_whatsNews

No comments:

Post a Comment