Bank Investor Reaches Settlement Over WaMu Buyout

Law360, New York (June 27, 2006, 12:00 AM EDT) -- An angry investor has reached a settlement with Commercial Capital Bancorp Inc., just one month after he filed a purported class action lawsuit against the lender over the company's announced merger with Washington Mutual Inc.

Irvine, Calif.-based Commercial Capital and its directors were sued by the investor in late May, just one month after the company announced its plan to be acquired by Washington Mutual for $983 million.

In the suit, the shareholder accused the bank of failing to maximize shareholder value during the deal, which...
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.