Given the amount of commercial litigation stemming from the subprime meltdown, surprisingly few cases have actually gone to trial. But in one of the rare exceptions, a federal judge in Manhattan ruled on Feb. 3 that a Prudential Financial subsidiary was entitled to nearly $77 million in damages from State Street Corporation.
The judge reduced the award to $28.1 million in consideration of Prudential’s share of a previous Securities & Exchange Commission settlement with State Street.
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