RTTNews | May 14, 2021 07:07AM EDT

07:07 Friday, May 14, 2021 (RTTNews.com) - State Street Corp. (STT) announced Friday that it has resolved, or agreed to resolve, certain outstanding claims and investigations arising from its previously disclosed determination in 2015 that it had incorrectly invoiced clients for certain expenses.

In a Form 8-K filing with the U.S. Securities and Exchange Commission, State Street revealed that it paid a $115 million penalty to settle the potential criminal claims after entering into a Deferred Prosecution Agreement with the Office of the United States Attorney for the District of Massachusetts (USAO).

In May 2021, State Street also agreed to pay $2.65 million to resolve a purported class action that had been commenced against it in March 2017 alleging that it had violated duties owed to retirement plan customers under the Employee Retirement Income Security Act.

In April 2021, State Street agreed, subject to court approval, to resolve a derivative complaint against certain of its past and present officers and directors to recover alleged losses incurred by it relating to the invoicing matter and to another previously disclosed matter and to pay a fee to plaintiff's counsel.

Read the original article on RTTNews ( https://www.rttnews.com/3194833/state-street-pays-115-mln-penalty-to-resolve-potential-criminal-claims-with-usao-quick-facts.aspx)

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