Judge Tosses State Street ERISA Case

Law360, New York (February 6, 2008, 12:00 AM EST) -- An unorthodox ERISA case filed by investors claiming that their pension fund breached its fiduciary duty by selling a stock just before the price increased has ended in a victory for investment manager State Street Bank and Trust Co., after a judge ruled in favor of the bank and tossed the case.

In a decision handed down last week in the U.S. District Court for the District of Massachusetts, Judge William G. Young ruled that State Street did not breach its fiduciary duty when it divested...
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