BNY Mellon Wants Baker Hughes Arbitration Ruling Upheld

Law360, New York (August 12, 2011, 5:04 PM EDT) -- A Bank of New York Mellon Corp. division sued in Texas federal court Friday to enforce an arbitration decision with Baker Hughes Inc. resolving claims that the bank had made false statements when pitching auction rate securities to the oil field services provider.

BNY Mellon Capital Markets LLC filed the suit in the Southern District of Texas, asking for confirmation of the Aug. 1 arbitration award by the Financial Industry Regulatory Authority and for the costs of fending off a suit launched Aug. 2 by Baker...
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