WaMu Directors Lose Bid To Toss Monitoring Claim

Law360, New York (December 1, 2009, 7:09 PM EST) -- Director defendants fighting class action Employee Retirement Income Security Act litigation over losses to Washington Mutual Inc.'s employee savings plan have lost a second attempt to rid themselves of the plaintiffs' failure-to-monitor claim.

Judge Marsha J. Pechman of the U.S. District Court for the Western District of Washington on Monday refused to reconsider a decision that kept alive the plaintiffs' monitoring claim and a second claim for co-fiduciary liability.

The director defendants, who served on the human resources committee of the WaMu board, had asked the...
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