BOSTON, Jan. 07, 2019 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court District of Massachusetts has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of State Street Corporation (:STT):
SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT
TO: ALL PERSONS WHO PURCHASED OR ACQUIRED STATE STREET CORPORATION COMMON STOCK FROM FEBRUARY 27, 2012 THROUGH JANUARY 18, 2017, INCLUSIVE.
YOU ARE HEREBY NOTIFIED that the above-captioned action has been certified as a class action for settlement purposes and that Plaintiffs have reached a proposed settlement with Defendants to resolve all claims in the case for $4,900,000 in cash. The Settlement Class consists of all persons who purchased or otherwise acquired common stock of State Street Corporation from February 27, 2012 through January 18, 2017, inclusive. If you are a Settlement Class Member, your rights will be affected by this settlement, and you may be entitled to share in the Settlement Fund.
A hearing will be held on April 17, 2019, at 3:00 p.m. before the Honorable Nathaniel M. Gorton, United States District Judge of the District of Massachusetts, Courtroom No. 4, 3rd Floor, 1 Courthouse Way, Boston, Massachusetts 02210, to determine: (1) whether the Court should approve the settlement and plan of allocation as fair, reasonable, and adequate; and (2) whether the Court should approve Lead Counsel’s application for an award of attorneys’ fees of up to 30% of the Settlement Amount, reimbursement of expenses of not more than $95,000, and an Award to Plaintiffs totaling $4,000.
If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release Form, you may obtain copies by writing to or calling the Claims Administrator: State Street Corporation Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, Media, PA 19063; (Tel) (844) 333-6681; or by email at [email protected], or going to the website, statestreetclassaction.com. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form postmarked no later than March 4, 2019 to the Claims Administrator, establishing that you are entitled to recovery.
As further described in the Notice, you will be bound by any judgment entered in the Action, regardless of whether you submit a Proof of Claim and Release Form, unless you exclude yourself from the Settlement Class, in accordance with the procedures set forth in the Notice, by no later than March 18, 2019. Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and Award to Plaintiffs must be served no later than March 31, 2019, in the manner and form explained in the detailed Notice.
If you have any questions about the Settlement, you may call or write to the Claims Administrator at the address and phone number listed above, or Lead Counsel at The Rosen Law Firm, P.A., c/o Laurence M. Rosen, Esq., 275 Madison Avenue, 34th Floor, New York, NY 10016, (212) 686-1060.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
