Law360 provides the intelligence you need to remain an expert and beat the competition. A federal judge has ruled that BNY Mellon must face 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 interests of the beneficiaries. The case is being closely watched because it could set an important precedent for other banks and their clients.
A federal judge has ruled that BNY Mellon must face 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 interests of the beneficiaries. The case is being closely watched because it could set an important precedent for other banks and their clients.