A lawsuit was filed by an investor in NYSE:STT shares against directors of State Street Corporation over alleged breaches of fiduciary duties and other current long- term NYSE:STT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/09/2012 -- An investor in NYSE:STT shares filed a lawsuit against certain current and former directors of State Street Corporation over alleged breaches of fiduciary duties in connection with State Street’s foreign currency exchanges and certain mortgage-backed securities.
Investors who are current long-term stockholders in shares of State Street Corporation (NYSE:STT) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges that the defendants failed to properly oversee State Street’s foreign currency exchanges and mortgage-backed securities that exposed State Street Corporation billions of dollars in potential legal damages and real losses.
State Street Corporation (NYSE:STT) reported that its Net Loss of $1.88billion in 2009 turned into a Net Income of $1.92billion in 2011.
NYSE:STT shares rose from as low as $17.98 per share on March 6, 2009 to as high as $55.17 per share in October 2009 and traded over the past two years for the most part over $40.
On May 7, 2012, NYSE:STT stocks closed at $44.74 per share.
Those who are current long-term stockholders in shares of State Street Corporation (NYSE:STT), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com