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Bank Investor Reaches Settlement Over WaMu Buyout

Law360 (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...
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