On February 4, 2010, the SEC announced in a Press Release that it: "charged Boston-based State Street Bank and Trust Company with misleading its investors about their exposure to subprime investments while selectively disclosing more complete information to specific investors."

On February 4, 2010, the SEC announced in a Litigation Release that it: "filed a settled civil action charging Massachusetts-based State Street Bank and Trust Company ('State Street') with securities law violations for misleading investors during the subprime mortgage crisis in 2007 about the extent of subprime mortgage-backed securities held in certain funds under its management, and then selectively disclosing more complete information about subprime investments to certain investors."

On February 25, 2010, Federal District Judge Douglas P. Woodlock entered Final Judgment against State Street Bank and Trust Company, pursuant to the consent of the SEC and State Street Bank and Trust Company. As part of the Final Judgment, State Street's undertaking to pay $255,240,472 to injured investors takes into account a credit of $349,600,887 for payments State Street already made to injured investors including in a class action settlement in the case titled In re State Street Bank and Trust Co. ERISA Litigation, Case 07 Civ. 8488 (RJH).