WGI investor lawsuit settled $39 million to go to people who lost out in 2001

People who bought stock or bonds in Washington Group International in the months leading up to its 2001 bankruptcy will get some of their investment back — not from Washington Group, but from the Raytheon Co.

Raytheon announced Friday it had agreed to a $39 million cash settlement of a class action lawsuit filed by those who invested in WGI from April 17, 2000, through March 2, 2001.

The settlement clears the way for thousands of former Washington Group investors to get back some of the money they lost when WGI’s stock was declared worthless as part of the bankruptcy settlement in 2002.

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Additional Information
Who’s eligible

People who bought Washington Group International stock or bonds between April 17, 2000, and March 2, 2001, are eligible to share in the settlement announced Friday.
Those eligible should contact attorney Philip Gordon at 345-7100.

Mike Maharry
The Idaho Statesman

Full Story: http://www.idahostatesman.com/apps/pbcs.dll/article?AID=/20050416/NEWS02/504160332/1029