WaMu Shareholders Lose Bid To Appoint Examiner

Law360, New York (May 5, 2010, 4:40 PM EDT) -- A judge in the Washington Mutual Inc. bankruptcy case on Wednesday batted down shareholders' request to appoint an independent examiner to look into the bank's proposed settlement with JPMorgan Chase & Co. and the Federal Deposit Insurance Corp.

Judge Mary Walrath ruled against the official committee of equity security holders' motion in the U.S. Bankruptcy Court for the District of Delaware, saying the appointment of an examiner was unnecessary.

"It is clear to me that this matter has been investigated to death,” Judge Walrath said, finding...
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