The Western District Court of Washington says it's been informed of a pending settlement in the lead class-action securities lawsuit against Washington Mutual Inc. and its directors.
The case, filed in early 2008, was scheduled to go to trial in 2012. After being notified of the pending settlement, the court halted discovery and canceled the trial date. Those seeking damages include individual shareholders, public employee pension funds and other institutional investors. Attorneys for either side did not comment.