WaMu Shareholders Blast Ch. 11 Deal With Hedge Funds

Law360, New York (January 11, 2012, 6:57 PM EST) -- A group of Washington Mutual Inc. shareholders on Wednesday urged a Delaware bankruptcy judge to force the bank and hedge funds involved in forging the settlement at the heart of WMI's latest proposed reorganization plan to turn over additional information before confirming the plan.

The TPS Group, which represents five WMI shareholders, says the settlement and plan submitted Dec. 12 that would give shareholders a stake in the reorganized company unfairly benefits the hedge funds by releasing them from shareholder claims that they improperly traded on...
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