After a lengthy battle, Washington Mutual (WaMu) has settled their case against the FDIC and JPMorgan for 4 billion dollars. Washington Mutual has stated that this settlement will be a fair amount to help settle its debts with their outstanding creditors.

Washington Mutual was seized in 2008 by the FDIC. The bank claims in the lawsuit they filed tht the FDIC and JPMorgan worked together to lower the value, and following sale, of the WaMu holdings. Accusations of false information being leaked to regulators and bidders was the basis of this lawsuit. Washington Mutual stated that it had a minimum of 4 billion dollars on deposit at the time of the seizure. The suit also stated that there was another 2 billion in other cash available in its holdings.

Washington Mutual demanded information from various third party entities to prove their claims against the FDIC and JPMorgan. To their dismay, the judge presiding over the case ruled against Washington Mutual stating these third parties did not have to disclose the information.

However, Washington Mutual had enough compelling evidence against the other two entities to reach a settlement agreement Friday for the 4 billion dollars. Lawyers from all sides of the issues were happy to end the process and move forward.