WaMu Plaintiffs Told To File More 'Coherent' Suit

Law360, New York (May 18, 2009, 12:00 AM EDT) -- A class of plaintiffs accusing bankrupt financial giant Washington Mutual Inc. of a massive, secretly conducted financial fraud in its home loan business has been ordered to replead Securities Exchange Act-related claims with more "proper structural organization."

In ordering the amended pleadings Friday in the U.S. District Court for the Western District of Washington, Judge Marsha J. Pechman essentially said the current complaint was not focused enough.

"Not counting the appendices, plaintiffs' complaint is nearly 400 pages long, contains over 1,000 paragraphs and includes information from...
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