Investors Pull Plug On BNY Mellon RMBS Trustee Suit

By Jon Hill (September 13, 2019, 4:57 PM EDT) -- Investors including funds of BlackRock Inc. and other asset managers have dropped derivative claims seeking to recover billions of dollars in alleged damages from the Bank of New York Mellon on behalf of more than 200 crisis-era residential mortgage-backed securities trusts that it allegedly mismanaged as their trustee, according to New York federal court filings....

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