WaMu Seeks OK For Pair Of Securities Settlements

Law360, New York (August 3, 2011, 4:35 PM EDT) -- Washington Mutual Inc. asked a Delaware bankruptcy judge on Tuesday for permission to ink a pair of settlements resolving securities class actions brought by Flaherty & Crumrine Preferred Income Fund Inc., Monterey County Investment Pool and San Buenaventura, Calif.

If the deals are approved, WMI will pay San Buenaventura and Monterey County $4.25 million to resolve their securities class action, according to a motion. Flaherty & Crumrine will get $4.2 million to drop its claims that WMI made misleading statements in connection with securities offerings in...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.