State Street Tries To Squash FW Webb Subprime Suit

Law360, New York (April 26, 2010, 5:31 PM EDT) -- Lawyers for State Street Bank & Trust Co. and CitiStreet LLC asked a judge Monday to dismiss a suit brought by F.W. Webb Co. over losses in employee benefit accounts invested in subprime assets, arguing that the financial firms provided sufficient information about the risks.

Attorneys Robert A. Skinner of Ropes & Gray LLP and John J. Butts of WilmerHale asked Judge Richard J. Holwell of the U.S. District Court for the Southern District of New York to dismiss the case, noting that other suits against...
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