WaMu Underwriters Can't Shake Securities MDL

Law360, New York (January 31, 2011, 6:12 PM EST) -- The federal judge in charge of the multidistrict securities litigation against Washington Mutual Inc. has denied a summary judgment bid by the defunct bank's underwriters, including Goldman Sachs & Co. Inc., ruling that the plaintiffs' consolidated claims weren't time-barred.

Judge Marsha Pechman of the U.S. District Court for the Western District of Washington on Friday rejected a motion filed by Morgan Stanley, Goldman Sachs and about a dozen other underwriters seeking to scrap the plaintiffs’ claims on the grounds that the statute of limitations had expired....
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