WaMu Units Want 110 Claims Tossed From MBS Action

Law360, New York (July 1, 2011, 6:25 PM EDT) -- Units of Washington Mutual Bank NA on Thursday said a class of investors suing in Washington state over alleged misstatements regarding failed mortgage-backed securities should have 110 of their 123 claims tossed because the plaintiffs did not actually purchase them.

In a motion for judgment on the pleadings filed in federal court in Seattle, WaMu Asset Acceptance Corp. and WaMu Capital Corp. said that the plaintiffs did not have standing to bring claims for those 110 tranches of mortgage-backed securities because prior precedent in the Ninth...
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