City's Fraud Suit Against WaMu Survives Dismissal Bid

Law360, New York (October 26, 2010, 1:40 PM EDT) -- San Buenaventura, Calif., and the Monterey County Investment Pool have sufficiently amended their securities complaint against bankrupt Washington Mutual Inc. and Deloitte & Touche LLP to survive a motion to dismiss, a federal judge says.

Judge Marsha J. Pechman of the U.S. District Court for the Western District of Washington threw out the original fraud and negligent misrepresentation suit in April, finding the claims inadequately pled. On Monday she ruled that the 115-page amended complaint the plaintiffs filed in May is now sufficient, except with regard...
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