BNY Forex Rate Scheme Cost Investors Millions: Suit

Law360, New York (November 4, 2011, 7:49 PM EDT) -- Bank of New York Mellon Corp. was hit Friday with a putative class action in Pennsylvania federal court alleging retirement plan members lost millions when it came to light that the bank was engaging in a shady foreign currency trading scheme.

Former BNY employee and retirement plan participant Isabel F. Sansano filed the suit on behalf of participants in the Bank of New York Mellon Corp. 401(k) Savings Plan, alleging the bank and the plan's fiduciaries breached their fiduciary duties and cost the putative class millions...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

SANSANO v. THE BANK OF NEW YORK MELLON CORPORATION et al


Case Number

2:11-cv-01412

Court

Pennsylvania Western

Nature of Suit

Labor: E.R.I.S.A.

Judge

Mark R. Hornak

Date Filed

November 4, 2011

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.