Breskin Johnson & Townsend was lead local class counsel for a Federal Securities Act class action lawsuit filed on behalf of shareholders of WSB Financial, Inc. Plaintiffs alleged that the company’s registration statement for WSB’s initial public offering failed to disclose that the company had been violating banking laws and regulations relating to the origination, administration and monitoring of construction and mortgage loans. The settlement agreement provides for payment of about $4.85 million to all persons who purchased the company’s common stock pursuant or traceable to its initial public offering in December 2006.