CASES
State Street Corp.
Class Period: Oct 17, 2006 to Oct 19, 2009
Lead Plaintiff Deadline: Feb 17, 2010 + Deadline passed
Summary of Case:
A securities class action has been filed against State Street Corp. (STT) ("State Steet" or the "Company") on behalf of all securities purchasers from October 17, 2006 through October 19, 2009, inclusive ("Class Period"), in the United States District Court of Massachusetts.
The complaint alleges that Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about State Street's business, operations and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company set up a scheme to substantially mark up foreign currency trades; (2) that such scheme caused State Street's clients to overpay for such trades; (3) that the scheme allowed the Company to reap illegal profits; (4) that, as a result, the Company's financial results were materially inflated; (5) that the Company's financial results were not prepared in accordance with Generally Accepted Accounting Principles; and (6) that the Company lacked adequate internal and financial controls.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.