$129M FDIC Suit Over WaMu Losses Narrowed Again

Law360, New York (February 7, 2012, 2:23 PM EST) -- A judge on Monday dismissed part of the Federal Deposit Insurance Corp.’s $129 million suit accusing a loan appraisal company of causing bankrupt Washington Mutual Inc. losses by offering it inexperienced appraisers, saying the FDIC had not been specific enough about the contractual terms allegedly breached.

U.S. District Judge David O. Carter of California federal court dismissed certain counts for breach of contract from the suit against CoreLogic Valuation Services LLC, which had already been trimmed in November, leaving other claims for breach of contract and...
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