July 06, 2012
BNY Mellon NA has paid $280 million to settle a putative class action in Oklahoma federal court alleging it recklessly sank investors' money into Sigma Finance Inc., a $27 billion structured investment vehicle that collapsed during the credit crisis, the bank announced Friday.
June 22, 2011
An Oklahoma federal judge ruled Tuesday that BNY Mellon NA could file some depositions under seal after a putative class of institutional investors accused the asset management firm of manipulating a protective order in litigation over $1.6 billion in losses.