Current Cases

Washington Mutual ERISA | Company Ticker: WM

Date Filed: November 29, 2007
Court: U.S. District Court
Location: Seattle

Hagens Berman Sobol Shapiro has filed a class-action lawsuit against Washington Mutual on behalf of all employees participating in the company's 401(k) plan. The suit claims the company's CEO, board members and all other fiduciaries failed to adequately monitor the plan and advise participants when the company stock investment was no longer prudent. As a result, employee participants suffered total financial losses in excess of $150 million.

The suit seeks to represent all WaMu employees whose 401(k) plan accounts include investments in company stock from April 18, 2006 until present.

The suit claims that under ERISA fiduciaries are obligated to eliminate imprudent investment vehicles from 401(k) plans and to warn plan participants of risky investments. Fiduciaries are also responsible to restore any losses to the plan resulting from proven mismanagement.

If you have WaMu stock through the company 401(k) plan you could be eligible to join this suit. You can contact HBSS by clicking here, by sending an e-mail to info@hbsslaw.com or by calling (206) 623-7292.