WaMu Units Want Last Claim Dropped From MBS Suit

Law360, Washington (April 16, 2012, 5:09 PM EDT) -- Units of Washington Mutual Bank NA on Friday asked a Washington federal court to throw out the last remaining claim of an investor class action regarding failed mortgage-backed securities, saying the investors cannot support their misstatement allegations against the company.

The case, which once encompassed 123 claims, has only one claim remaining, which alleges that offering documents from WaMu Capital Corp. and Washington Mutual Asset Acceptance Corp. contained material misstatements about the companies' mortgage underwriting.

But the WaMu units say that despite 25 million pages of...
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