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United Food And Commercial Workers International Union-Industry Pension Fund et al v. The Bank of New York Mellon
Case Number:
1:13-cv-04484
Court:
Nature of Suit:
Judge:
Firms
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September 16, 2014
BNY Mellon Loses Bid To Toss Pension Fund's $11M Suit
An Illinois federal judge on Tuesday rebuffed the Bank of New York Mellon Corp.'s bid to dismiss a union pension fund's suit claiming the bank cost it $11 million by making high-risk "prohibited transactions" with its assets, ruling that the fund pled adequate facts to support its allegations.
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June 19, 2013
Pension Fund Hits BNY With ERISA Suit Over $16M Losses
The trustees of a union's pension fund are accusing The Bank of New York Mellon Corp. of making high-risk "prohibited transactions" with the fund's assets in order to benefit the bank's business partners and maximize its profits, leaving the investor with $16 million in losses, according to a suit filed in Illinois federal court Tuesday.