Welcome!

News Feed Item

Shapiro Haber & Urmy LLP And Stull, Stull & Brody Announce A Proposed $10 Million Cash Settlement Of An ERISA Class Action On Behalf Of Certain Participants In The State Street Salary Savings Program

NEW YORK, Aug. 7, 2014 /PRNewswire/ -- In the United States District Court for the District of Massachusetts, in Kenney v. State Street Corp. et al., No. 09-10750-DJC, and Richard v. State Street Corp. et al., No. 10-10184-GAO, a summary notice has been issued as follows:

SUMMARY NOTICE OF PROPOSED CLASS ACTION SETTLEMENT AND SCHEDULING OF FINAL FAIRNESS HEARING

TO: ALL PERSONS WHO WERE PARTICIPANTS IN OR BENEFICIARIES OF THE STATE STREET CORPORATION SALARY SAVINGS PROGRAM (THE "PLAN") AT ANY TIME BETWEEN AUGUST 27, 2007 AND OCTOBER 21, 2009 AND WHOSE ACCOUNTS INCLUDED INVESTMENTS IN THE EMPLOYEE STOCK OWNERSHIP PLAN.

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO A PAYMENT FROM THE SETTLEMENT FUND.  PLEASE READ CAREFULLY.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, that the above-referenced action has been preliminarily certified as a class action for purposes of a proposed $10 million cash Settlement, subject to review and final approval by the Court.  As part of the proposed Settlement, Class members who show a loss under the proposed Plan of Allocation may be entitled to a payment from the Settlement.  You do not need to do anything to receive a payment under the Settlement, but your rights will be affected. The Settlement includes a release of any claims related to the administration of the Plan, the selection of investment options under the Plan, and disclosures about the Employee Stock Ownership Plan and the Company's financial condition.

A hearing has been scheduled before the United States District Court at the John Joseph Moakley United States Courthouse, One Courthouse Way, Courtroom 15, Boston, MA 02210, at 3:00 p.m, on October 27, 2014, to determine whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate, and to consider the proposed Plan of Allocation and Plaintiffs' Counsel's applications for attorneys' fees, expenses and Case Contribution Awards. 

You cannot exclude yourself from the Settlement.  You can, however, file written comments or objections with the Court.  You or your lawyer may also appear and request the opportunity to speak at the hearing at your own expense.  To do so, you must send your comments and objections to the Court and the Parties' attorneys no later than October 13, 2014.  Detailed instructions can be found on the Settlement Website on StateStreetCorpERISASettlement.com, where you can also obtain a more detailed notice about the terms of the Settlement, how the existence of a qualifying loss will be determined and how the payments will be calculated, along with the Settlement Agreement and related materials.  Additional information and materials, including Class Counsel's application for attorneys' fees and expenses, will be posted on the Settlement Website as they are filed with the Court.  You may also write to State Street ERISA Litigation Settlement, Settlement Administrator, c/o A.B. Data, Ltd., PO Box 170500, Milwaukee, WI 53217-8091 to request copies of these materials.

All other inquiries may be made by writing to Class Counsel at:

Thomas G. Shapiro, Esq.
Michelle Blauner, Esq.
SHAPIRO HABER & URMY LLP
Seaport East
Two Seaport Lane
Boston, MA  02210
[email protected]

Mark Levine, Esq.
STULL, STULL & BRODY
6 East 45th Street
New York, NY  10017
[email protected]

Published by Order of the U.S. District Court for the District of Massachusetts.

CONTACT:

Shapiro Haber & Urmy LLP 617-439-3939


Mark Levine, Esq., 212-687-7230

 

SOURCE Shapiro Haber & Urmy LLP

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, highlighted the current challenges of these transformative technologies and shared strategies for preparing your organization for these changes. This “view from the top” outlined the latest trends and developments i...
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, paneli...
@DevOpsSummit at Cloud Expo taking place Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center, Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is ...
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
"We are a monitoring company. We work with Salesforce, BBC, and quite a few other big logos. We basically provide monitoring for them, structure for their cloud services and we fit into the DevOps world" explained David Gildeh, Co-founder and CEO of Outlyer, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
Join us at Cloud Expo June 6-8 to find out how to securely connect your cloud app to any cloud or on-premises data source – without complex firewall changes. More users are demanding access to on-premises data from their cloud applications. It’s no longer a “nice-to-have” but an important differentiator that drives competitive advantages. It’s the new “must have” in the hybrid era. Users want capabilities that give them a unified view of the data to get closer to customers and grow business. The...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
"When we talk about cloud without compromise what we're talking about is that when people think about 'I need the flexibility of the cloud' - it's the ability to create applications and run them in a cloud environment that's far more flexible,” explained Matthew Finnie, CTO of Interoute, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...