Judge OKs $6M Deal In State Street Mutual Fund Suit

Law360, New York (May 2, 2012, 4:58 PM EDT) -- A New York federal judge on Wednesday blessed State Street Corp.’s $6.25 million settlement with a putative class of investors who were allegedly duped into investing in a mutual fund tied to the ill-fated subprime mortgage market.

U.S. District Judge Paul A. Crotty granted the plaintiffs’ motion for preliminary approval of the agreement at a court hearing. He appeared surprised when plaintiffs’ attorney Ellen Stewart of Robbins Geller Rudman & Dowd LLP described the size of the deal and said it represented as much as 60...
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