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Old 05-03-2009, 12:44 PM   Nav to Top  #1
goldflash22
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Default WAMUQ vs. JPM

OK, this is as speculative as they come, but this latest news about JPMORGAN sabotaging WAMU could give WAMUQ a possible rise this week.

UPDATE 1-WaMu seeks to investigate JPMorgan conduct in deal | Markets | US Markets | Reuters

WaMu seeks to investigate JPMorgan conduct in deal - News Wires - CNBC.com

If they do sue and win, would shareholders receive any of the benefits of the award? It seems like they are going after a total of $17B! I know a lot of people got screwed on this when it went down and the way in which it happened was verrrrry shady. From this quote, it seems like shareholders would get something out of the deal:

"WaMu said in court documents that if the claims in the Texas suit turn out to be true, JPMorgan could be held responsible for the "destruction" of the parent company and the "total losses suffered by its creditors and shareholders."

I played WAMUQ early on and was able to get a couple grand out of the deal. I wondering if I could do the same now, but the PPS kinda scares me (.106) right now.

I think we could see some significant action on this one in the coming weeks, but it's definitley NOT a long term play IMO. Maybe I would leave a few bucks in it to see what happens down the road, but it would have to be money that I was willing to lose.
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Old 05-03-2009, 01:02 PM   Nav to Top  #2
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"WaMu, the bankrupt holding company of what was Washington Mutual Bank, filed a motion in U.S. bankruptcy court in Delaware, charging that JPMorgan engaged in "sham negotiations" designed to get confidential information out of WaMu and gain an unfair advantage in buying its assets."


This is going to be interesting as it unfolds...

I may throw a few dollars at WAMUQ, thanks for the heads-up.
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Old 05-03-2009, 08:52 PM   Nav to Top  #3
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I do not know if I would invest heavy in this, there are better plays out there that do not carry the amount of risk this one does. You know going in it is a completely uphill battle to get a profit....but good luck if you go this route...
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