State Street settles lawsuit, bulks up legal reserve
State Street Corp. will pay $89.75 million to settle a class-action lawsuit with a group of employee benefit plans invested in certain active fixed-income strategies managed by its SSgA unit, confirmed Arlene Roberts, State Street spokeswoman.
The proposed settlement is subject to court approval.
State Street officials declined to disclose other details about the plans or the court, Ms. Roberts said.
The proposed settlement “relates to certain active fixed-income strategies managed by SSgA during 2007 and earlier periods,” she added
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