Washington Mutual Preferred fka WAMPQ

[hestheman]

For those that did'nt understand the PR, preferreds WILL be converted to common shares in the reorganized company. I would think that Preferreds would have to get majority ownership in the new company and commons would reveive very little (if none) by way of shares in the reorganized company and as Mordicai said, litigation warrants. There is no way they would try to screw over preferreds here IMO. The face value of our shares are 1k per share, no way they would throw us into a very large pool with commons. If they did, no one would probably buy preferred shares ever again.