Special Master To Probe $75M Fee Request In State St. Deal

Law360, Boston (March 7, 2017, 8:28 PM EST) -- A federal judge in Boston on Tuesday said he has tapped a special master to look into possible attorney-fee improprieties in a $300 million class action settlement with State Street Corp. over its foreign exchange practices. 

The class action suit alleged that State Street, a global financial services holding company, marked up its indirect foreign exchange trades with hidden fees and gave itself better rates than its own customers. State Street paid $530 million to settle the suit and separate government investigations.

Senior U.S. District Judge Mark Wolf's unopposed decision Tuesday on the special master came after attorneys from three plaintiffs' firms...

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