Hedge funds appeal “gross injustice” of WaMu ruling

Reuters) – Four hedge funds appealed on Tuesday a ruling in the Washington Mutual Inc bankruptcy that found viable claims they had engaged in insider trading, an opinion one fund called a “gross injustice.”

The hedge funds sought an expedited appeal of a ruling earlier this month by Delaware Bankruptcy Judge Mary Walrath, in which she rejected Washington Mutual’s plan to distribute $7 billion to creditors for a second time.

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