www.WashingtonMutualSecuritiesLitigationSettlement.com - Washington Mutual Securities Litigation Settlement

Www.WashingtonMutualSecuritiesLitigationSettlement.com is the site that deals with the ‘In re Washington Mutual Securities Litigation’ class action lawsuit. This lawsuit involving Washington Mutual, Inc. or WMI, the Individual Defendants, the Underwriter Defendants and Deloitte & Touche LLP, alleges these parties of violating the federal securities laws, where some official and directors of WMI violated Exchange Act and failed to disclose to the public the lending practices and financial condition of WMI.

You will be treated as a Class Member in this lawsuit, if you had purchased one or more securities like WMI common stock, WMI’s August 2006 Offering of Floating Rate Notes, WMI’s October 2007 Offering of 7.250% Notes, WMI’s December 2007 Offering of 7.75% Series R Non-Cumulative Perpetual Convertible Preferred Stocks and/or units of Washington Mutual Capital Trust 2001’s 5.375% Trusted Preferred Income Equity Redeemable Securities. If you had done the above between 19th October 2005 and 23rd July 2008 and had incurred losses, you will be eligible to receive compensation under the proposed settlement. The parties have agreed on an out-of-court settlement, where the defendants had proposed three (3) all-cash settlements, where Individual Defendants including WMI will pay a settlement amount of $105 million, Underwriter Defendants will pay a settlement amount of $85 million and Deloitte will pay a settlement amount of $18.5 million; thereby taking the entire settlement kitty to $208.5 million plus interests.

The Court will take the final decision at the Settlement Fairness Hearing scheduled to be held at 9:00 a.m. on 4th November 2011 and on approval you will receive your compensation, which will depend on the number of Class Members applying for compensation. To file a claim, you need to download the claim form from this site and send it latest by 8th December 2011. However, if you either want to exclude yourself or object this settlement, you have to file for any of these, latest by 10th October 2011. You can even choose to appear for this hearing and for that you need to submit the Notice of Intention to Appear at Hearing, latest by 15th October 2011.

Website: www.washingtonmutualsecuritieslitigationsettlement.com 
Tags:   Category: Legal

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