Judge Questions BNY's Call To Jettison $80M Insurer Suit

Law360, Los Angeles (January 9, 2012, 5:42 PM EST) -- A California federal judge appeared dubious of arguments by Bank of New York Mellon NA on Monday that it had indisputably met its investment-manager obligations to Pacific Life Insurance Co. and should be able to walk away from an $80 million lawsuit over an ill-fated investment vehicle.

"Let me focus on what I think is your biggest challenge, and that's, why is this not an argument you should be making to a jury, relating to fiduciary duty, prudence, et cetera?” U.S. District Judge Josephine Staton Tucker...
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