Ex-WaMu Workers Sue For Post-Bank Sale Pay

Law360, New York (May 20, 2009, 12:00 AM EDT) -- A number of former Washington Mutual Inc. employees have filed a proposed class action against the Federal Deposit Insurance Corp. alleging it breached their contracts when refusing to pay them bonuses and other compensation after selling WaMu's beleaguered banking operations to JPMorgan Chase & Co. in September.

In a second amended complaint filed Tuesday in the U.S. District Court for the Western District of Washington, a group of WaMu employees say their contracts were breached in the asset sales last year. The FDIC seized WaMu's banking...
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