NEW YORK, April 15, 2008 (Lawfuel) — Beleaguered investors of
Washington Mutual Inc. (NYSE:WM) were delivered more bad news by the
company in Tuesday’s after-hours earnings announcement. The company
reported a first-quarter loss of $1.14 billion and indicated that it
expects to charge off $12 billion to $19 billion of its $187 billion
portfolio of single-family residential home loans in 3 to 4 years.
Litigation on behalf of Washington Mutual employees and 401(k) plan
participants has commenced against the company for alleged violations
of the Employee Retirement Income Security Act (ERISA) in the United
States District Court for the Western District of Washington. If you
are an employee of Washington Mutual and wish to discuss the
investigation or have questions concerning this notice or your rights,
please contact Scott+Scott ([email protected], (800) 404-7770,
(860) 537-5537), for more information. There is no cost or fee to you.
Scott+Scott is a law firm with significant experience in prosecuting
investor and employee class actions. The firm currently is litigating
major securities, antitrust and employee retirement plan actions
throughout the United States and represents pension funds, foundations,
individuals and other entities worldwide.
CONTACT: Scott+Scott LLP