The Bank of New York Mellon Corp. won’t have to face a certified class of investors alleging the bank breached its duty as trustee for five residential mortgage-backed securities trusts, a federal court held Feb. 15.

“Many of the legal and factual issues which must be established for class members to prove their claims cannot be resolved through class-wide proof,” Judge Gregory H. Woods wrote for the U.S. District Court for the Southern District of New York.

The five trusts...