A Delaware bankruptcy judge has rejected Washington Mutual's attempt to get personal financial information from shareholders who are demanding an annual company meeting. Members of the shareholders committee are hoping to elect new board members, alleging that the current WaMu board is resisting the election of new directors who would protect shareholder interests in the company's reorganization plan and the related settlement of a $4 billion dispute with JPMorgan Chase & Co. and the Federal Deposit Insurance Corp.
August 11, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A Delaware bankruptcy judge on Tuesday rejected Washington Mutual Inc.’s attempt to get personal financial information from shareholders who are demanding an annual company meeting.
Attorneys for the bank holding company argued that it needs to know whether the shareholders have the financial ability to wage a proxy contest before funds from the bankruptcy estate are spent on an annual meeting.
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