Settlement Notice: State Street CorporationSource: OMX
TO: ALL PERSONS WHO OWN SHARES OF STATE STREET CORPORATION COMMON STOCK AS OF JUNE 24, 2021 (“SHAREHOLDERS”):
BOSTON, Aug. 27, 2021 (GLOBE NEWSWIRE) -- Please read this notice carefully and in its entirety. Your rights may be affected by the proceedings described in this notice. A proposed settlement has been reached in this action, as set forth in a Stipulation of Settlement (“Stipulation”). The action is a derivative action, which was brought on behalf of State Street Corporation (“State Street”), and the proposed settlement does not provide for monetary recovery. Accordingly, there is no claim form. The Stipulation of Settlement does not require State Street to make any payment to State Street shareholders.
A hearing to determine whether the proposed settlement of the claims that were asserted by the plaintiffs, derivatively on behalf of nominal defendant State Street, against certain directors and officers of State Street should be approved by the Court as fair, reasonable and adequate, will be held on October 13, 2021 at 2:00pm before the Honorable Brian A. Davis, both via Zoom (Meeting ID 161 7623 4752) and live at the Suffolk County Superior Court, Courtroom 1309, 3 Pemberton Square, Boston, MA 02108. At the hearing, the Court will also consider whether to enter a judgment dismissing all claims in the litigation with prejudice, forever discharging and settling certain released claims, whether to approve Plaintiffs’ request for their counsel’s fees and expenses, and any other matters that may properly be before the Court in connection with the proposed settlement.
If you are a Shareholder under the terms of the proposed settlement, you may have certain rights in connection with the proposed settlement. This notice is a summary only and does not describe all of the details of the Stipulation. Nothing in this notice can vary or supersede the terms of the Stipulation. For full details of the matters discussed in this notice, you may desire to review the Stipulation filed with the Court at the Civil Clerk’s Office of the Suffolk County Superior Court, 3 Pemberton Square, 12th Floor, Boston, Massachusetts 02108. You may also obtain additional details regarding this notice on the investor relations section of State Street’s website here. You may also request the Stipulation as well as a detailed notice regarding the terms of the proposed settlement from plaintiffs’ counsel:
Gustavo F. Bruckner
600 Third Avenue
New York, NY 10016
If you are a Shareholder under the terms of the proposed settlement and do not take steps to appear in this action and object to the proposed settlement, you will be bound by the final judgment of the Court and will forever be barred from raising an objection to such settlement in this or any other action or proceeding, and from pursuing any of the released claims.
PLEASE DO NOT CALL THE CLERK OF THE COURT OR THE JUDGE FOR INFORMATION.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $42.6 trillion in assets under custody and/or administration and $3.9 trillion* in assets under management as of June 30, 2021, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
*Assets under management as of June 30, 2021 includes approximately $64 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
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