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Friday, 06 July 2012 14:00

UPDATE 1-BNY Mellon settles Sigma lawsuit for $280 mln

Written by  Reuters: Company News
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July 6 (Reuters) - BNY Mellon Corp said it settled a lawsuit by investors that accused the bank of imprudently investing their cash in a risky debt vehicle that collapsed in 2008, and the bank recorded a $350 million pre-tax charge partly related to the settlement.

Read more http://feeds.reuters.com/~r/reuters/companyNews/~3/7RQAaMi0EmQ/bnymellon-lawsuit-idUSL3E8I62XI20120706

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