2010-05-12 06:18:08 - Shareholders need to send objections via overnight mail as Attorneys for Washington Mutual failed to notify shareholders in a timely way that they needed to act to object to the proposed "settlement" plan.

A court filing was made recently by attorneys for Washington Mutual Inc that requires prompt action by all shareholders. Although the information about this has been on Pacer for a short time (a court site most shareholders don’t have access to), the attorneys for Washington Mutual Inc mailed the notification to shareholders about this too late for shareholders to respond by the deadline.
In fact, at the time of this Press release, I still have not received my letter, and reports from many shareholders I know say they have not received their letter either. Objections are due in court May 13th 2010.

This objection letter is in regard to the proposed “settlement plan” that leaves shareholders 100% out in

the cold, with no money for their stock. This settlement “gives” JPMorgan Chase everything Washington Mutual has, for nothing. Washington Mutual Inc. (WAMUQ WAMPQ WAMKQ WAHUQ) Shareholders “gave” JPMorgan Chase a huge bank, valued at about 52 Billion, by virtue of seizure by the OTS and a midnight deal only a fool would call proper & just--compliments of the FDIC. Now Washington Mutual Attorneys want to give JPMorgan whatever is left, including tax returns and drop all lawsuits against the FDIC and JPMorgan Chase (JPM) leaving shareholders nothing. It is not clear why WMI attorneys are just giving away the rest of what Washington Mutual rightfully owns. Recently, the Board of Directors purportedly stepped down the role of the primary attorneys, Weil, Gotshal and Manges, due to a conflict of interest, as one of their clients is JPMorgan-the very company Washington Mutual Inc is up against. That attorney firm is still quite active in the case, and it is not clear why.

At this time the FDIC has not agreed to this settlement plan, but shareholders need to voice their objections promptly, as you can be certain the FDIC is not objecting in order to get the shareholders a fair deal. The FDIC could agree to this proposal at any time, without warning and shareholders could be left with nothing. Shareholders need to speak up for themselves via a formal objection in court to the proposed settlement plan.

Please see the link below for more information, a sample letter and complete instructions regarding what is required by the court for shareholders to object "formally" to this proposed plan. It is quite simple to do.

Shareholders have no time to waste and should overnight their letters so that it is received by the Delaware Bankruptcy Court no later than 4 PM May 13th.

Click on the link below for full instructions regarding what is required. A sample letter has been provided, but feel free to write your own. Be sure to mail to the court overnight delivery to reach the court by May 13th. .

I recommend you send all letters with “delivery confirmation” for a nominal charge by the post office. With delivery confirmation you can prove your letter was received and you can track it on line.

You will also need to send copies of your letters and "proof of service" to various attorneys. That information has also been provided for you in the link below.

I find it quite interesting that the letters informing shareholders about this were mailed too late to be received by shareholders in time to file an objection with the court. I am fortunate that I found out about this today, in time to pass on this crucial information to you. I still have not received my letter—and most shareholders I know have not gotten theirs yet either.

Don't wait to get your letter, you need to act today! This is an urgent matter, and shareholders MUST act today if their letters are to arrive in court by the deadline of May 13th. Letters to the court MUST be sent overnight delivery to get there in time.

Be sure to follow the instructions closely. Make sure your letter counts!

Full information and a sample letter can be found at the link below. Feel free to just copy and paste the sample letter if you wish, or make up your own. The important thing is it needs to be in the mail with overnight delivery today!

sites.google.com/site/wamuequity1/