You have to know what’s happening with clients, competitors, practice areas, and industries. A federal judge has ruled that BNY Mellon must dismiss a class action brought by a trust beneficially , who claims that the bank invested the trust 's assets to benefit itself , rather than in the best interest of the beneficiaries . The judge dismissed the bank 's claims that the trust ought to be dismissed ; BNY Mellon had argued that the claims being made were precluded by the Securities Litigation Uniform Standards Act .
A federal judge has ruled that BNY Mellon must dismiss a class action brought by a trust beneficially , who claims that the bank invested the trust 's assets to benefit itself , rather than in the best interest of the beneficiaries . The judge dismissed the bank 's claims that the trust ought to be dismissed ; BNY Mellon had argued that the claims being made were precluded by the Securities Litigation Uniform Standards Act .