Facing angry judge, Washington Mutual agrees to meet with shareholders wanting information
By Randall Chase, APThursday, June 3, 2010
WaMu shareholders fight for document production
WILMINGTON, Del. — Washington Mutual Inc. has agreed to meet with shareholders seeking information in the company’s Chapter 11 bankruptcy after a judge threatened to reconsider her decision denying the appointment of an independent examiner in the case.
With renewed talk of an examiner, a WaMu attorney on Thursday withdrew a motion to establish discovery procedures in the case and said he would be willing to meet with parties wanting information.
The proposal came after an attorney for shareholders said Washington Mutual is stonewalling efforts to obtain information about the largest bank failure in U.S. history and a proposed settlement of resulting lawsuits.
The judge told attorneys to meet and try to resolve their differences before a June 17 hearing.
