State Street Bank Can't Shake Pension Fund's Forex Suit

Law360, New York (May 10, 2012, 6:51 PM EDT) -- A Massachusetts federal judge on Tuesday kept alive an Arkansas pension fund's proposed class action against State Street Bank and Trust Co. alleging the Boston-based bank cheated clients out of millions of dollars each year by misrepresenting foreign exchange trades.

U.S. District Judge Mark L. Wolf rejected State Street's request to throw out the suit, which was filed in February 2011 by the Arkansas Teacher Retirement System, though he did dismiss claims against two of the bank's affiliates, State Street Corp. and State Street Global Markets...
To view the full article, register now.