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Minnesota Firm Slaps State Street with Subprime Suit
planadviser; registration may be required 
Jan. 29, 2009
Excerpt: State Street has been hit with another federal court lawsuit alleging it took positions in risky subprime mortgage-backed securities in its Daily Bond Market fund, without telling anyone it had done so. Apogee Enterprises, a Minneapolis-based glassware manufacturer, charged that the investment decisions State Street made regarding the bond fund represented breaches of State Street's fiduciary duties under the Employee Retirement Income Security Act (ERISA) that ended up costing its 401(k) plan more than $5 million.
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