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State Street Bank & Trust Class Action

On January 11, 2012, we filed a class action lawsuit against State Street Bank and Trust Co., the custodian for plaintiffs’ accounts managed by TAG Virgin Islands Inc., a company controlled by registered investment advisor James Tagliaferri. The complaint alleges that State Street is liable for its breach of contract, gross negligence, unjust enrichment, breach of fiduciary duty, aiding and abetting TAG’s breach of fiduciary duty and aiding and abetting TAG’s fraud. The complaint alleges that State Street’s failures and misconduct caused in excess of $100 million in losses for the plaintiff class members.

If you have questions about or information relevant to this action, please contact our firm at (212) 742-1414 or