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WALDEN et al v. THE BANK OF NEW YORK MELLON CORPORATION et al

  1. December 16, 2024

    BNY Scores Exit In Mutual Fund Conflict Of Interest Suit

    A Pennsylvania federal magistrate judge on Monday granted The Bank of New York Mellon's bid to toss a proposed class action claiming that it failed to disclose conflicts of interest when funneling client assets into mutual funds and other investment vehicles that favored the bank, ruling that the claims are preempted by the Securities Litigation Uniform Standards Act.

  2. April 11, 2024

    BNY Can't Nix Suit Alleging Mutual Fund Conflict Of Interest

    The Bank of New York Mellon must face most of the remaining claims in a proposed self-dealing class action alleging it failed to disclose conflicts of interest when funneling client assets into mutual funds and other investment vehicles that favored the bank.

  3. August 01, 2023

    BNY Mellon Seeks End To Clients' Self-Dealing Class Action

    The Bank of New York Mellon said it did not put clients' investments in underperforming affiliated mutual funds for its own benefit, telling a Pennsylvania federal judge it had sufficiently notified its clients about the nature of the investments.

  4. November 30, 2021

    BNY Mellon Gets Self-Dealing Class Action Trimmed

    The Bank of New York Mellon dodged two of the five remaining claims against it in a proposed class action that accuses the bank of steering high net worth clients into underperforming investments it owned or benefited from.

  5. June 18, 2021

    BNY Mellon Fights Ruling Keeping Self-Dealing Suit Afloat

    The Bank of New York Mellon urged a Pennsylvania federal judge Thursday to rethink her ruling requiring it to face a proposed class action accusing it of funneling money from high-net-worth clients into underperforming investments it owned or benefited from, arguing the claims are preempted by federal securities law.

  6. June 08, 2021

    BNY Mellon Can't Dodge Wealth Management Conflicts Suit

    The Bank of New York Mellon has lost its bid to toss a proposed class action accusing it of funneling money from high-net-worth clients into underperforming investments it owned or benefited from, with a Pennsylvania federal judge dismissing some claims without prejudice.