State Street sued over 130/30 losses

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US/NETHERLANDS - Dutch pension fund Stichting Pensioenfonds British American Tobacco (Pension Fund BAT) is suing State Street Bank & Trust for losses in a long/short fund run by State Street Global Advisors.

The pension fund alleged State Street breached its fiduciary duty when it transferred the securities in the SSgA World Index Plus Edge Common Trust Fund, a 130/30 fund, to Lehman Brothers. The fail...

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