Replies to post #320228 on Mr Cooper Group Inc (COOP)

[uzualsuzpect]

Response to this MARTA article by Dudebug

FWIW ~~ Rosen threw out that little jab at one of the last hearings that if there was enough money to reach Equity, he'd add the MARTA claim back in!! Either it IS or ISN'T a claim, BR!!

Here's a 11/2009 Bloomberg article I found that has some history timeline on the Marta, Boilermaker, NO Employees, etc. filing. This is ONE class action suit that originated in August 2008 in Washington State. At one point (12/2008) they dropped their suit against WMI. Looking at it from the Corporate Veil angle, the Subs that issued the pass-through certificates are subs of WMB. Would think WMI is not first in line for liability but JPM & FDIC now. ???


http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=7177283

On August 4, 2008, Plaintiffs New Orleans Employees' Retirement System and MARTA/ATU Local 732 Employers Retirement Plan, institutional investors represented in the case by Labaton Sucharow and Barroway Topaz Kessler Meltzer & Check, filed a Complaint in the King County Superior Court for the State of Washington alleging violations of the federal securities laws by:
Washington Mutual Inc.,
Washington Mutual Bank,
WaMu Asset Acceptance Corp.,
Washington Mutual Mortgage Securities Corp.,
WaMu Capital Corp.,
and certain Individual Defendants (No. 08-2-26210-3 SEA).

The Complaint was filed on behalf of all purchasers of WaMu Mortgage Pass-Through Certificates between January 26, 2006 and November 1, 2007 that were issued pursuant and/or traceable to a Registration Statement that WaMu Asset Acceptance Corp. filed with the Securities and Exchange Commission on December 30, 2005, as supplemented on January 3, 2006.

The Certificates at issue in the Complaint are related to the following Trusts: WaMu Mortgage Pass-Through Certificates Series 2006-AR1 through Series 2006-AR19 and WaMu Mortgage Pass-Through Certificates Series 2007-HY1 through Series 2007-HY7.

On September 26, 2008, Washington Mutual Inc. filed a voluntary petition for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Delaware.

On December 16, 2008, Plaintiffs filed an Amended Complaint in King County Superior Court that EXCLUDED Washington Mutual Inc. as a defendant in the case, but retained the allegations from the initial Complaint against all other defendants.

On January 29, 2009, the FDIC, as Receiver for Washington Mutual Bank, filed a Notice of Removal, removing Plaintiffs' case from the King County Superior Court to the United States District Court for the Western District of Washington.

The action is now entitled New Orleans Employees' Retirement System v. Federal Deposit Insurance Corporation, as Receiver for Washington Mutual Bank, et al. (No. 2:09-cv-00134-RSM).

On January 12, 2009, the Boilermakers National Annuity Trust Fund filed a Complaint alleging violations of the federal securities laws against Washington Mutual Bank and other defendants, on behalf of all purchasers of Certificates from certain of the above identified Trusts in the United States District Court for the Western District of Washington (No. 2:09-00037-MJP).

On January 14, 2009, the Boilermakers published notice of their action to investors, which provided a deadline to seek Lead Plaintiff status in that case by March 16, 2009.



**Link to statement from Judge Pechman's court on the Boilermakers consolidated suit.
http://wa.findacase.com/research/wfrmDocViewer.aspx/xq/fac.%5CFDCT%5CWWA%5C2010%5C20100325_0000638.WWA.htm/qx