Funds Unfazed By Report On $4B WaMu Stock Transfer

Law360, New York (November 9, 2010, 2:28 PM EST) -- A cadre of investment funds refused to back down Tuesday in its pursuit of $4 billion in securities transferred from Washington Mutual Inc. to JPMorgan Chase Bank NA on the eve of WaMu’s bankruptcy, despite findings in an examiner’s report that cast doubt on the funds' claims.

At a hearing in the U.S. Bankruptcy Court for the District of Delaware, the funds — headed up by Black Horse Capital LP — reasserted their intention to pursue a lawsuit seeking to void the transfer of their trust-preferred...
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