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News for 'WAMUQ' - (Official Committee of Equity Security Holders of Washington Mutual, Inc. Deliver Statement Regarding Proposed Settlement)
WAMUQ News -- Official Committee of Equity Security Holders of Washington Mutual, Inc. Deliver Statement Regarding Proposed Settlement.
Wednesday, March 17, 2010 3:30 PM
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News for 'WAMUQ' - (Official Committee of Equity Security Holders of Washington Mutual, Inc. Deliver Statement Regarding Proposed Settlement)
NEW YORK, March 17, 2010 /PRNewswire via COMTEX/ -- In response to numerous
inquiries, the Official Committee of Equity Security Holders of Washington
Mutual, Inc. (the "Committee") issues this statement in connection with the
proposed global settlement (the "Proposed Settlement") among Washington Mutual,
Inc. and WMI Investment Corp. (jointly, the "Debtors"), JP Morgan Chase and the
Federal Deposit Insurance Corporation (together with JP Morgan Chase, the
"Proposed Defendants").
The Debtors have stated their intent to seek approval of the Proposed Settlement
in connection with a plan of reorganization to be filed on or about March 26,
2010. The Committee anticipates that the Debtors will seek approval of the
Proposed Settlement and its plan of reorganization 60-90 days from that date.
The Committee was not involved with, and does not support, the Proposed
Settlement (based on all available information). At this time, the Committee
intends to object to the Proposed Settlement.
Please be apprised that the Committee is unable to discuss strategy or its
intended course of action, but please be assured that the Committee takes its
duty to shareholders very seriously and will take all reasonable and appropriate
actions to represent the interests of shareholders.
Contact: Michael Willingham, Chairman of the Committee of Equity Security
Holders for Washington Mutual, Inc, et al. mwillingham1@yahoo.com
SOURCE Official Committee of Equity Security Holders of Washington Mutual, Inc.
www.prnewswire.com
Copyright (C) 2010 PR Newswire. All rights reserved
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KEYWORD: New York
INDUSTRY KEYWORD: FIN
SUBJECT CODE: ACC
Source: Comtext Market News
