BNY Sued by Former Employee Seeking Severance After Termination

A former Bank of New York Mellon Corp. employee filed a federal lawsuit saying he was wrongfully denied severance benefits under the bank’s employee welfare benefit plan.

The employee claims his termination was classified as “unsatisfactory job performance” despite evidence of satisfactory work, and that he was denied severance benefits he was entitled to under the bank’s plan for involuntary terminations unrelated to performance.

Laurence Steller’s lawsuit, filed Wednesday in the US District Court for the Southern District of New York, seeks unpaid benefits, equitable relief, and attorneys’ fees under the Employee Retirement Income Security Act.

BNY didn’t immediately ...