BNY Mellon Back On Hook Over Lehman Losses

Law360, New York (September 8, 2010, 3:53 PM EDT) -- A federal judge has resurrected a class action alleging The Bank of New York Mellon Corp. played fast and loose with pension plan assets, making risky and ruinous investments in Lehman Brothers Holdings Inc. notes and other mortgage-backed securities.

On Tuesday, Judge Richard M. Berman of the U.S. District Court for the Southern District of New York vacated his own April dismissal of the suit and made room for a new complaint alleging BNY Mellon violated the Employee Retirement Income Security Act when investing collateral from...
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