Welcome to the Washington Mutual, Inc. Securities Litigation Website
The In re Washington Mutual Securities Litigation is a class action lawsuit alleging violations of the federal securities laws by various persons, including Washington Mutual, Inc. ("WMI"), the Individual Defendants, the Underwriter Defendants, and Deloitte & Touche LLP. In this Action, the Court appointed Ontario Teachers' Pension Plan Board to serve as "Lead Plaintiff", and approved Lead Plaintiff's selection of the law firm Bernstein Litowitz Berger & Grossmann LLP ("Lead Counsel") to serve as Lead Counsel in the Action. The Court certified the Action to proceed as a class action and certified Lead Plaintiff and additional named plaintiffs Pompano Beach Police and Firefighters' Retirement System, Brockton Contributory Retirement System, and Police and Fire Retirement System of the City of Detroit (collectively, "Plaintiffs") as representatives for the Class.
The Lead Plaintiff has reached three proposed all-cash settlements of the Action, as follows: (i) a $105 million settlement with the Individual Defendants whereby WMI is also a Settling Defendant; (ii) an $85 million settlement with the Underwriter Defendants; and (iii) an $18.5 million settlement with Deloitte. The total amount of the Settlements is $208.5 million, plus interest thereon. If all of the Settlements are approved by the Court, they will resolve all claims in the Action.
Please be advised that your rights may be affected by this class action lawsuit if, during the period from October 19, 2005 to July 23, 2008 you purchased or otherwise acquired any of the following securities issued by the Company or its subsidiaries, and were damaged thereby:
- WMI common stock (CUSIP 939322103);
- Floating Rate Notes due August 24, 2009, offered in August 2006
(CUSIP 939322AW3) ("Floating Rate Notes");
- 7.25% Subordinated Notes due November 1, 2017, offered in October 2007
(CUSIP 939322AY9) ("7.250% Notes");
- 7.75% Series R Non-Cumulative Perpetual Convertible Preferred Stock, offered in December 2007
(CUSIP 939322814) ("Series R Stock"); and
- Washington Mutual Capital Trust 2001's 5.375% Trust Preferred Income Equity Redeemable Securities (PIERS) Units, maturing July 1, 2041
(CUSIP 939322848) ("Capital Trust Unit Preferred").
Please be sure to review the Notice to fully understand your rights.
- The Exclusion Filing Deadline was October 10, 2011.
- The Objection Filing Deadline was October 10, 2011.
- The Notice of Intention to Appear at Hearing Deadline was October 15, 2011.
- The Settlement Fairness Hearing was held on November 4, 2011 at 9:00 a.m.
- The Claim Filing Deadline was December 8, 2011.