Settlement Announcements

On August 20, 2021, the Suffolk County Superior Court preliminarily approved the settlement of a shareholder derivative action on behalf of nominal defendant State Street against certain directors and officers of State Street, subject to further consideration at a settlement hearing. The terms of the settlement do not require State Street to make any payment to State Street shareholders. The hearing to determine whether the proposed settlement of the claims should be approved by the Court as fair, reasonable and adequate, and to consider the request for payment of attorneys’ fees and expenses to plaintiffs’ counsel to be paid by State Street, will be held on October 13, 2021 at 2:00pm


On May 13, 2021, the Department of Justice announced a settlement and deferred prosecution agreement for our previously disclosed inquiry into the overcharges to our custody clients for items billed as out-of-pocket expenses that we disclosed in 2015.


On January 18, 2017, State Street Corporation announced that it entered into a settlement agreement with the US Department of Justice (DOJ) that resolves its investigation of the company concerning six EMEA-based clients that were overcharged for transition management services in 2010 and 2011.