WaMu Bondholders' Suit Over 'Fire Sale' To JPMorgan Pared

Law360, New York (October 1, 2012, 5:45 PM EDT) -- Washington Mutual NA bondholders will see only their tortious interference claim against JPMorgan Chase & Co. move forward, after a Washington, D.C., federal judge on Friday trimmed the insurers' suit claiming JPMorgan engineered the bank's downfall in order to buy it at a massive discount.

U.S. District Judge Rosemary M. Collyer found the bondholders' claims for unjust enrichment and breach of a confidentiality agreement failed because the alleged damage had actually been done to WaMu itself. The claims therefore belonged to the FDIC receiver for the...
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