State Street Hit With Shareholder Suit Over '09 Losses

Law360, New York (January 19, 2010, 1:59 PM EST) -- A putative class of State Street Corp. shareholders has filed suit against the financial services firm and its directors, accusing them of cover-ups of the company's exposure to billions of dollars in investment losses and fraudulent inflation of trading revenues between 2006 and 2009.

The shareholder suit was filed Jan. 15 in the U.S. District Court for the District of Massachusetts by State Street investor Marilyn Demory on behalf of any party who held publicly traded State Street securities between Oct. 17, 2006, and Oct. 19,...
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