State Street Off Hook In Fund Misrepresentation Suit

Law360, New York (April 1, 2011, 7:23 PM EDT) -- A New York federal judge on Friday shot down a class action complaint over alleged misrepresentations by State Street Corp. in mutual fund documents, in a decision an attorney said could "sharply constrain" similar suits against mutual funds.

Judge Richard J. Holwell of the U.S. District Court for the Southern District of New York "somewhat reluctantly" agreed with State Street's analysis that the investors' loss was caused only by a declining economy, not by any alleged misrepresentations State Street made, and dismissed the investors' suit with...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

In Re: State Street Bank and Trust Co. Fixed Income Funds Investment Litigation


Case Number

1:08-md-01945

Court

New York Southern

Nature of Suit

Labor: E.R.I.S.A.

Judge

Paul A. Crotty

Date Filed

June 16, 2008


Case Title

Yu v. State Street Corp.


Case Number

1:08-cv-08235

Court

New York Southern

Nature of Suit

Labor: E.R.I.S.A.

Judge

Paul A. Crotty

Date Filed

September 24, 2008

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.