Can someone briefly explain this parallel litigation and how much if Wamu wins this case after the bankruptcy is over this will amount to as value per share / value aggregate?
Thanks - I am considering a position after I weigh out potential payoff with risks.
I invested in a company in the 1980's that needed cash for expenses while in a lawsuit that "they couldn't lose" and the law seemed to support their contention...however...we lost why - because the person who coordinated the investments was so jazzed about winning this huge payoff from the case that he failed to inform us of the nitty gritty details and one of those details caused the company to lose the case and all the money was gone. Its risky investing in the law as much as this case ruling is beneficial to shareholders, that doesn't mean when the case resumes that WAMU will win. In fact, one day in the far off future when the bankruptcy is over and the case resumes, an equally surprising ruling could be made for the FDIC effectively dismissing the case. SOmeone said that this is huge, this is why I asked - staying a case while waiting for another parallel case to complete is basically a neutral position. Yes, its better than the FDIC motions being granted for dismissal, however, it just gives everyone another day to fight in the far off future.