State Street Corporation
Period: Feb 27, 2012 to Jan 18, 2017
Lead Plaintiff Deadline: Mar 28, 2017 + Deadline passed
Summary of Case:
A securities class action has been filed against State Street Corporation (NYSE: STT) on behalf of purchasers of State Street securities from February 27, 2012 through January 18, 2017. This case has been filed in the USDC - CA (Central).
According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) State Street engaged in a scheme to defraud a number of its clients by secretly applying commissions to billions of dollars of securities trades; (2) State Street's billing practices relied on unsustainable methodologies; (3) over a 18-year period, approximately $240 million or more of expenses may have been incorrectly invoiced to State Street's asset servicing clients; (4) from June 2010 until September 2011, State Street charged clients "substantial" mark-ups without their consent; and (5) as a result, Defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
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.