State Street Faces Consolidated Shareholder Action

Law360, New York (June 28, 2010, 6:07 PM EDT) -- Shareholders in a putative class action against State Street Corp. have targeted the financial services firm and its directors in a consolidated complaint accusing the company of hiding its exposure to troubled assets by artificially inflating its revenues.

The Public Employees' Retiree System of Mississippi and Union Asset Management Holding AG filed their consolidated complaint in the U.S. District Court for the District of Massachusetts on Friday on behalf of all investors who bought State Street stock between Oct. 17, 2006, and Oct. 19, 2009, as...
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