BNY Mellon Wins Approval of $180M Forex Settlement

Bank of New York Mellon Corp. won final approval of a $180 million settlement with investors who claimed they lost money amid allegations the bank had defrauded clients in foreign-exchange transactions for as long as a decade (La. Mun. Police Emps. Sys. v. Bank of N.Y. Mellon Corp., S.D.N.Y., 11-cv-9175, settlement approved 10/20/15).

The settlement, which was approved Oct. 20 by Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York, is part of a plan by BNY Mellon to get past the forex crisis. The deal resolves a case that could ...