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...
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