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While the shareholders of Washington Mutual Inc. wait anxiously for the Nov. 1 examiner’s report in WMI’s Chapter 11 to find out if they have any hope of recovery through the bankruptcy process, they can rest assured that things are looking very good in their securities class action against some very deep-pocketed defendants. On Wednesday, Seattle federal district court Judge Marsha Pechman granted the plaintiffs’ motion for class certification (pdf), giving the green light to investors who bought WaMu shares in three offerings between 2005 and 2008, when the company went bust.

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