| Company: | State Street Corporation |
| Ticker Symbol: | STT |
| Class Period: | Oct-17-06 to Oct-19-09 |
| Date Filed: | Dec-21-09 |
| Lead Plaintiff Deadline: | Feb-19-10 |
| Court: | District of Massachusetts |
| Allegations: | |
The complaint charges that State Street and certain of its executive officers violated federal securities laws. Specifically, defendants failed to disclose that State Street set up a scheme to substantially mark up foreign currency trades and that such scheme caused State Street's clients to overpay for such trades, and the scheme allowed the company to reap illegal profits, and as a result, the company's financial results were materially inflated, and its financial results were not prepared in accordance with Generally Accepted Accounting Principles or GAAP and that the company lacked adequate internal and financial controls.
On October 20, 2009, California Attorney General Edmund Brown announced that he had filed suit against State Street alleging the company had illegally overcharged California's two largest pension funds for the costs of executing foreign currency trades since 2001. On this news, shares of State Street fell $4.41 to close at $47.84 per share on October 20, 2009.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
