Washington Mutual Securities Fraud Class Action Law Suit Filed

Washington Mutual shares of common stock opened at today’s trading at 0.0515 and bounced throughout the day at between $0.049 and $0.085 range. It is expected that Washington Mutual stock will be liquidated since JP Morgan Chase acquired virtually all of the assets of the troubled thrift. Last night, after the market’s closing, Market Wire reported that a class action suit has been initiated and a public announcement to that affect has been made by The Securities Arbitration Law Firm of Tramont Guerra & Nunez, PA (TGN) to potential members of the class. The class action lawsuit filed against Washington Mutual is Case No. 07 CV 09801. Potential class members of said action are advised as required by the law to chose between either joining in the class action suit or opting out on their individual legal endeavors.

As required by the legal statutes, individual investors desiring to pursue recovery on their own must opt out, otherwise they will be excluded from the class.

It is a common practices for class action law firms to notify individual investors presumed to qualify as a class member by mail whereas step by step instructions are offered to assist the investor in either one of the options. If chosen to opt out, an individual investor in the case with Washington Mutual will need to go through an arbitration process, in which case the investor has an opportunity to recover higher percentage of the investment. However, I personally think that more than one class action case will be filed against Washington Mutual, in which event all of such actions are expected to be consolidated.

If you are a potentially injured investor, look up of Tramont Guerra & Nunez, PA