WaMu Judge To Consider Vacating Insider Trading Findings

Law360, Wilmington (January 25, 2012, 3:25 PM EST) -- A Delaware bankruptcy judge on Wednesday said she would consider vacating portions of her opinion rejecting Washington Mutual Inc.’s last reorganization plan that relate to insider trading claims against the defunct bank’s hedge fund allies.

According to WMI, the hedge funds demanded that the unflattering findings be excised as part of a pivotal settlement with shareholders. The bank holding company then moved to vacate the findings in connection with its upcoming third attempt at confirming a bankruptcy plan.

At a hearing Wednesday, U.S. Bankruptcy Judge Mary...
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