January 04, 2023
A Texas federal judge refused Wednesday to grant Bank of New York Mellon subsidiary Pershing a summary judgment win in investor litigation seeking to hold the clearinghouse liable for losses tied to R. Allen Stanford's $7 billion Ponzi scheme, sending the decade-old lawsuit to a jury trial.
December 09, 2014
Bank of New York Mellon Corp. subsidiary Pershing LLC failed Monday to beat back most of a putative class action over its role as clearing broker in Allen Stanford's alleged $7 billion Ponzi scheme, as a Texas federal judge rejected Pershing's argument that it was too distant from the alleged crime to be held liable.