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ERISA Litigation Advisory: New Suits Allege ERISA Breaches Resulting From Investments in Sub-Prime Mortgages (PDF)
Alston & Bird LLP 
Oct. 23, 2007 3 pages. Excerpt: Two new suits have been filed against State Street Bank alleging that it breached fiduciary duties under ERISA by investing retirement plan assets in sub-prime mortgage products through one or more bond funds it operates. These suits contend that State Street served as investment manager for a number of plans that invested in one or more of its bond funds, which in turn invested in mortgage-backed securities contrary to the conservative investment strategies these funds advertised. MORE >> |
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