Washington Mutual, Inc. : WM Group of Funds

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Washington Mutual, Inc. : WM Group of Funds Summary: A class action lawsuit has been brought in the United States District Court for the Southern District of California, asserting that Washington Mutual maintained and failed to disclose a "preferred list" of proprietary mutual funds while concealing from investors revenue-sharing and other incentive programs intended to sell the WM Group of Funds. The complaint alleges that Washington Mutual violated federal securities laws by issuing materially false and misleading information in the mutual fund prospectuses, which impeded investor access to alternative funds and superior returns.

On June 6, 2007, the Court appointed the named plaintiff as lead plaintiff and Finkelstein & Krinsk as lead counsel. Defendants' motions to dismiss the original complaint were denied as moot. Shortly thereafter, an Amended Complaint was filed on August 24, 2007. Defendants again moved for dismissal. On January 17, 2008, the U.S. District Judge Dana M. Sabraw granted the defendants’ motion to dismiss with prejudice and with leave to amend. On February 6, 2008, the plaintiff filed a Second Amended Complaint, and the defendants responded by filing motions to dismiss the Second Amended Complaint. On June 17, 2008, the Court granted the defendants’ motions to dismiss the Second Amended Complaint and the Court entered the Clerk’s Judgment that day. The plaintiff has filed a motion for reconsideration regarding the Order on Motion to Dismiss and the Clerk’s Judgment.

On August 19, 2008, U.S. District Court Judge Dana M. Sabraw denied the plaintiffs’ motion for reconsideration regarding the regarding the June 17, 2008 Order on Motion to Dismiss and the Clerk’s Judgment. The plaintiffs filed an appeal on September 11, 2008, and the appeal is currently pending in the Ninth Circuit Court of Appeals.

On March 25, 2009, the Court entered the Order from the U.S. Court of Appeals. The parties agreed to dismiss the appeal as to appellees WM Trust I, WM Trust II, WM Strategic Asset Management Portfolios, LLC, WM Financial Services, Inc., WM Advisors, Inc., WM Funds Distributor, Inc., Edge Asset Managements, Inc., Principal Financial Group, Inc., Principal Investors Fund, Inc., and Principal Funds Distributor, Inc., only. This case shall continue as to appellees Washington Mutual, Inc., and WAMU Investments, Inc. Pursuant to the 3/17/2009 order of the USCA, appellate proceedings are stayed as to appellee Washington Mutual, Inc., under 11 USC 362(a) until 4/14/2009.

INDUSTRY CLASSIFICATION:
SIC Code: 6035
Sector: Financial
Industry: S&Ls/Savings Banks

COMPANY/ISSUER NAME:	Washington Mutual, Inc.
COMPANY/ISSUER TICKER:	WM
COMPANY WEBSITE:	http://www.wamu.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Luz M. Zapien, et al. v. Washington Mutual, Inc., et al.

COURT: S.D. California	DOCKET NUMBER: 07-CV-00385
JUDGE NAME: Hon. Dana M. Sabraw
DATE FILED: 02/28/2007	SOURCE: Notice of Filing
CLASS PERIOD START: 03/01/2004	CLASS PERIOD END: 03/01/2005
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Finkelstein & Krinsk LLP 501 West Broadway, Suit 1250, San Diego, CA, 92101 (voice) 877.493.5366, (fax) 619.238.5425, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint For Violation Of The Federal Securities Laws
Type: Complaint		Date on the document: 2/28/2007
Order Motion For Appointment Of Luz Zapien As Lead Plaintiff And Approval Of Finkelstein & Krinsk LLP As Lead Counsel
Type: Order Appointing LP/LC		Date on the document: 06/06/2007

REFERENCE COMPLAINT

Luz M. Zapien, et al. v. Washington Mutual, Inc., et al.

COURT: S.D. California	DOCKET NUMBER: 07-CV-00385
JUDGE NAME: Hon. Dana M. Sabraw
DATE FILED: 02/06/2008	SOURCE: Docket
CLASS PERIOD START: 03/01/2004	CLASS PERIOD END: 03/01/2005
TYPE OF COMPLAINT: Second Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Finkelstein & Krinsk LLP 501 West Broadway, Suit 1250, San Diego, CA, 92101 (voice) 877.493.5366, (fax) 619.238.5425, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE REFERENCE COMPLAINT
First Amended Class Action Complaint For Violation Of The Federal Securities Laws
Type: Complaint		Date on the document: 8/24/2007
Defendants' Notice Of Motion And Motion To Dismiss Plaintiff's First Amended Complaint
Type: Motion		Date on the document: 10/15/2007
Order Granting Defendant' S Motion To Dismiss
Type: Order		Date on the document: 01/17/2008
Second Amended Class Action Complaint For Violation Of The Federal Securities Laws
Type: Complaint		Date on the document: 02/06/2008
Judgment In A Civil Case
Type: Other		Date on the document: 06/17/2008
Order Granting Defendant's Motion To Dismiss And Denying Plaintiff's Motion To Strike As Moot
Type: Order		Date on the document: 06/17/2008
Order Denying Plaintiffs' Motion For Reconsideration
Type: Order		Date on the document: 08/19/2008
Plaintiffs' Notice Of Appeal To The Ninth Circuit
Type: Notice of Appeal		Date on the document: 09/11/2008
U.S. District Court Civil Docket
Type: Docket		Date on the document: 04/02/2009

OTHER DOCUMENTS
US Court of Appeal Docket
Case Name and/or Number: Luz M. Zapien, et al. v. Washington Mutual, Inc., et al.
Type: Docket		Date on the document: 10/2/2008
Order
Case Name and/or Number: Luz M. Zapien, et al. v. Washington Mutual, Inc., et al.
Type: Order		Date on the document: 03/17/2009
Order
Case Name and/or Number: Luz M. Zapien, et al. v. Washington Mutual, Inc., et al.
Type: Order		Date on the document: 03/25/2009
Order
Case Name and/or Number: Luz M. Zapien, et al. v. Washington Mutual, Inc., et al.
Type: Order		Date on the document: 04/02/2009

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