0 7 ▁for ▁money ▁la und ering ; ▁the ▁original ▁suit ▁claimed ▁$ 2 2 . 5 ▁billion ▁in ▁dam ages ▁and ▁was ▁settled ▁for ▁$ 1 4 ▁million . ▁ ▁In ▁ 2 0 1 1 , ▁South ▁Carolina ▁su ed ▁B N Y ▁M ell on ▁for ▁alleg edly ▁failing ▁to ▁ad here ▁to ▁the ▁invest ment ▁gu idel ines ▁rel ating ▁to ▁the ▁state ’ s ▁p ension ▁fund . ▁The ▁company ▁settled ▁with ▁the ▁state ▁in ▁June ▁ 2 0 1 3 ▁for ▁$ 3 4 ▁million . ▁ ▁In ▁July ▁ 2 0 1 2 , ▁B N Y ▁M ell on ▁settled ▁a ▁class ▁action ▁law suit ▁rel ating ▁to ▁the ▁collapse ▁of ▁S igma ▁Fin ance ▁Cor p . ▁The ▁suit ▁alleg ed ▁that ▁the ▁bank ▁inv ested ▁and ▁lost ▁c ash ▁coll ater al ▁in ▁medium - term ▁notes . ▁The ▁company ▁settled ▁the ▁law suit ▁for ▁$ 2 8 0 ▁million . ▁ ▁In ▁December ▁ 2 0 1 8 , ▁B N Y ▁M ell on ▁agreed ▁to ▁pay ▁nearly ▁$ 5 4 ▁million ▁to ▁sett le ▁charges ▁of ▁impro per ▁handling ▁of ▁" pre - re leased " ▁American ▁depos it ary ▁rece i pts ▁( AD R s ) ▁under ▁investigation ▁of ▁the ▁U . S . ▁Sec ur ities ▁and ▁Exchange ▁Commission ▁( SE C ). ▁B N Y ▁M ell on ▁did ▁not ▁admit ▁or ▁den y ▁the ▁investigation ▁find ings ▁but ▁agreed ▁to ▁pay ▁dis g org ement