WaMu Directors, Deloitte Off Hook For Calif. Claims

Law360, New York (April 29, 2010, 2:00 PM EDT) -- Deloitte & Touche LLP and several directors of Washington Mutual Inc. have won a bid to toss out a set of California state law claims in the securities multidistrict litigation against the bankrupt bank.

Judge Marsha J. Pechman granted the defendants' motions to dismiss in the U.S. District Court for the Western District of Washington on Wednesday, saying the plaintiffs have not adequately pled viable fraudulent and negligent misrepresentation claims against Deloitte and the directors.

“The plaintiffs’ threadbare allegations as to reliance are inadequate to proceed...
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