Judge Keeps ERISA Suit Against State Street Alive

Law360, New York (October 2, 2008, 12:00 AM EDT) -- Prudential Financial Services Inc.'s lawsuit against State Street Corp. over about $80 million in losses nearly 200 retirement plans suffered in the subprime mortgage meltdown can proceed, a federal judge ruled Tuesday.

State Street asked Judge Richard J. Holwell of U.S. District Court for the Southern District of New York to dismiss Prudential's suit. Prudential filed its suit on behalf of Prudential Retirement and Annuity Co. against State Street in October 2007.

Judge Holwell also denied State Street's motion for partial summary judgment to limit damages...
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