DALLAS, June 7, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Washington Mutual Inc. (Pink Sheets:WAMUQ). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/lp/WAMUQ
Washington Mutual Inc. (WAMUQ) is a consumer and small business banking company with operations in United States markets. The Company is a savings and loan holding company. It owns two banking subsidiaries, Washington Mutual Bank (WMB) and Washington Mutual Bank fsb (WMBfsb), as well as numerous non-bank subsidiaries. The Company operates in four segments: the Retail Banking Group; the Card Services Group; the Commercial Group; and the Home Loans Group. In addition, the Corporate Support/Treasury and Other includes the community lending and investment operations, the Treasury function, the Corporate Support function and the Enterprise Risk Management function. In September 2008, JPMorgan Chase & Co. acquired all deposits, assets and certain liabilities of Washington Mutual banking operations from the Federal Deposit Insurance Corp. (FDIC). In September 2008, the Company filed for Chapter 11 bankruptcy.
Message Board Search for WAMUQ: http://www.boardcentral.com/boards/WAMUQ
In the report, the analyst notes:
"The Company previously reported that the Bankruptcy Court held a hearing on June 3 to consider the approval of the disclosure statement, and it will ask the Bankruptcy Court to confirm its plan by July 20, following the said approval. As it was working its way to emerging from bankruptcy, WAMUQ's move suffered a setback when bankruptcy judge Mary Walrath postponed the consideration of the outline of its reorganization plan and told the Company's attorneys to talk further with shareholders about their requests for documents.
"As reported by Reuters, WAMUQ shareholders are seeking information underlying the proposed settlement, in which JPMorgan agreed to turn over the disputed deposits to the Company. The disclosure statement hearing was reportedly postponed to June 17."
To read the entire report visit: www.microstockprofit.com/lp/WAMUQ
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