BNY Mellon Forex Case Kept Alive By Judge

Law360, New York (June 13, 2013, 3:03 PM EDT) -- A New York federal judge on Monday declined to dismiss a class action in multidistrict litigation brought by a Louisiana police employee’s pension fund and others accusing Bank of New York Mellon Corp. of manipulating foreign currency exchange transactions.

U.S. District Judge Lewis A. Kaplan said in a one-page order that BNY Mellon, its director defendants and certain underwriter defendants could not dodge the suit from the Louisiana Municipal Police pension fund and others alleging that the bank charged its clients inflated foreign exchange rates when...
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