State Street (STT) 8-K5-Year Summary of Results

State Street is making available an updated financial information addendum for the fourth-quarter and full-year 2019 reflecting the additional legal accrual. The updated addendum is furnished with this report as Exhibit 99.1 and incorporated by reference in this Item 2.02.

State Street’s Annual Report on Form 10-K, to be filed with the Securities and Exchange Commission on the date hereof, will reflect the effects of the increased legal accrual and the adjusted financial results described above.

Our legal accrual associated with the invoicing matter, including the increase described above, reflects our intention to seek to resolve the related pending government investigations and civil litigation. In late January 2020, the Department of Justice outlined a framework for a possible resolution of their review of this matter, and we have subsequently inquired of the Department of Labor on the status of their review. We expect that any settlement with the DOJ will include both financial and non-financial provisions.There can be no assurance that we will reach a settlement in any of these proceedings, including the DOJ or DOL reviews, on financial or other terms acceptable to us or at all. The aggregate amount of penalties that may potentially be imposed upon us in connection with the resolution of all government investigations and civil litigation relating to the invoicing matter is not currently known and might be significantly in excess of our current accrual. The outcome of any of these proceedings and, in particular, any criminal sanction could materially adversely affect our results of operations and could have significant collateral consequences for our business and reputation.

This report, including this Item 2.02 and the materials furnished under Item 9.01, contains forward-looking statements within the meaning of United States securities laws, including statements about our goals and expectations regarding pending government investigations and civil litigation associated with our previously disclosed invoicing matter, as well as regarding our business, financial and capital condition, results of operations, strategies, the financial and market outlook, dividend and stock purchase programs, governmental and regulatory initiatives and developments, expense reduction programs, new client business, and the business environment. Forward-looking statements are often, but not always, identified by such forward-looking terminology as “outlook,” “guidance,” “expect,” “priority,” “objective,” “intend,” “plan,” “forecast,” “believe,” “anticipate,” “estimate,” “seek,” “may,” “will,” “trend,” “target,” “strategy” and “goal,” or similar statements or variations of such terms. These statements are not guarantees of future performance, are inherently uncertain, are based on current assumptions that are difficult to predict and involve a number of risks and uncertainties. Therefore, actual outcomes and results may differ materially from what is expressed in those statements.

Important factors that could cause actual results to differ materially from those indicated by any forward-looking statements, include, but are not limited, those set forth in our 2018 Annual Report on Form 10-K and our subsequent SEC filings, including, but not limited to, our 2019 Annual Report on Form 10-K expected to be filed with the SEC on the date hereof. We encourage investors to read these filings, particularly the sections on risk factors, for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained in this report should not by relied on as representing our expectations or beliefs as of any time subsequent to the time this report is filed with the SEC, and we do not undertake efforts to revise those forward-looking statements to reflect events after that time.