Shareholders of Washington Mutual Inc
The Official Committee of Equity Security Holders, representing shareholders of Washington Mutual, wants the bank to convene and hold an annual shareholders' meeting for the nomination and election of directors, court papers showed.
In the complaint, the committee said the bank held its last annual shareholder meeting on or about April 20, 2008.
Also, the bank has not set a date for an annual meeting of shareholders in 2010, which in line with its bylaws, would normally be held on April 20, according to the court filings.
Washington Mutual has issued about 3 million shares of Class R preferred stock, about 20 million shares of Class K preferred stock, and about 1.7 billion shares of common stock, according to the filing.
In 2008, Washington Mutual had filed for Chapter 11 bankruptcy protection. On January 28, a judge refused to disband the shareholders' committee, which Washington Mutual said would complicate the case.
The U.S. Trustee, which plays an oversight role in bankruptcy, appointed the committee earlier this month after being petitioned by 3,500 shareholders. The company immediately asked the court to disband it.
The case is In re Washington Mutual Inc, et al, U.S. Bankruptcy Court, District of Delaware, No. 08-12229. (Reporting by Sakthi Prasad in Bangalore; Editing by Valerie Lee )