WaMu Shareholders Demand Probe Of Bank Sale

Law360, New York (April 27, 2010, 4:14 PM EDT) -- Shareholders of bankrupt Washington Mutual Inc. have called for the appointment of an independent examiner to probe the 2008 seizure and sale of the collapsed bank's assets to JPMorgan Chase & Co.

The demand for an investigation was provoked in part by WaMu's plan to release JPMorgan and the Federal Deposit Insurance Corp. from potentially billions of dollars worth of litigation claims, according to a motion filed Monday in the U.S. Bankruptcy Court for the District of Delaware by the official committee of equity holders....
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