NEW YORK, Feb. 20, 2017 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of State Street Corporation securities (NYSE:STT) from February 27, 2012 through January 18, 2017, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for State Street investors under the federal securities laws.
To join the State Street class action, go to http://www.rosenlegal.com/cases-1031.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) State Street engaged in a scheme to defraud a number of its clients by secretly applying commissions to billions of dollars of securities trades; (2) State Street’s billing practices relied on unsustainable methodologies; (3) over a 18-year period, approximately $240 million or more of expenses may have been incorrectly invoiced to State Street’s asset servicing clients; (4) from June 2010 until September 2011, State Street charged clients “substantial” mark-ups without their consent; and (5) as a result, Defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 28, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1031.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.