WaMu Maintains Hold On Shareholder Actions

Law360, New York (January 13, 2009, 12:00 AM EST) -- The bankruptcy judge overseeing Washington Mutual Inc.’s Chapter 11 has refused to force the debtors-in-possession to abandon derivative actions now part of its estate and allow shareholders to pursue claims against the failed bank’s top brass.

On Monday, Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware denied the shareholders' bid to have the debtors relinquish the consolidated derivative actions, which were launched against the bank’s directors prior to the bankruptcy filing but subsequently became property of the debtors’ estate....
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