Peltz's Trian Fund Divests $122M Stake In State Street

Law360, New York (November 15, 2013, 4:15 PM EST) -- Trian Fund Management LP, run by activist investor Nelson Peltz, sold its $121.5 million stake in State Street Corp., according to a Thursday filing with the U.S. Securities and Exchange Commission.

A Trian spokeswoman on Friday said the firm had no comment on the exit. However, in a report released in October 2011, Trian had said, while outlining suggestions for improvements, that it believed State Street's stock was undervalued for a strong company because it prioritized growth over profit. Since that time, State Street's stock has...
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