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Class Action Sought in State Street Suit Filed on Behalf of a 401(k) Plan
Pensions & Investments 
Apr. 7, 2009 Excerpt: State Street Corp., along with SSgA and two other subsidiaries were named today in a federal lawsuit seeking class-action status, claiming the firms breached their fiduciary responsibilities in the management of its securities lending program for retirement plans. The suit, filed on behalf of the Fishman Haygood Phelps Walmsley Willis & Swanson LLP 401(k) plan, New Orleans, claims institutional investors suffered losses from imprudent investment of the cash collateral pools that support the securities lending program connected with SSgA's collective trusts. MORE >> |
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