Investors Get $208.5M In WaMu Settlement

Law360, New York (July 1, 2011, 1:45 PM EDT) -- The officers, directors, underwriters and auditor of Washington Mutual Inc. on Thursday reached a $208.5 million settlement in Washington state in a wide-ranging multidistrict litigation alleging that the failed bank abandoned risk management policies during the housing bubble.

The settlement, filed in federal court in Seattle, will see the insurers for Washington Mutual's former officers and directors pay $105 million while its underwriters, including Goldman Sachs Group Inc. and Deutsche Bank Securities Inc., will pay $85 million. Deloitte & Touche LLP, Washington Mutual's auditor, is slated...
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