WaMu, Other Defendants Fail To Toss Securities MDL

Law360, New York (October 28, 2009, 5:22 PM EDT) -- Shareholders who accused Washington Mutual Inc. of a massive home lending fraud have weathered an effort to get their case thrown out.

Judge Marsha Pechman of the U.S. District Court for the Western District of Washington issued a decision Tuesday that largely preserved the plaintiffs' case in the face of motions for dismissal from WaMu officers, auditor Deloitte & Touche LLC and several underwriter defendants including Goldman Sachs & Co. and UBS Securities LLC.

The decision affects all cases in a multidistrict litigation brought by individual...
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