The market turmoil of 2007 and 2008 helped to trigger a host of lawsuits against many asset managers. Some are fighting back, and their tactics could offer a model for other firms responding to claims over subprime losses.

The one to watch is State Street, whose investment arm, State Street Global Advisors (SSgA), is a defendant in at least six pending lawsuits in the US relating to active fixed income funds that suffered deep losses in 2007.