Mealey's Securities/D&O Liability - ERISA Claims Related To Securities Lending Program May Continue, Judge Rules

Mealey's Securities/D&O Liability - ERISA Claims Related To Securities Lending Program May Continue, Judge Rules

CHICAGO - A federal judge in Chicago on Feb. 6 refused to dismiss claims that the Bank of New York Mellon Corp. breached its fiduciary duties under the Employee Retirement Income Security Act by investing multiemployer pension and welfare funds' assets in notes issued by Lehman Brothers Holding Co. Inc. prior to Lehman's declaring bankruptcy (The International Brotherhood of Teamsters Union Local No. 710 Pension Fund, et al. v. The Bank of New York Mellon Corporation, et al., No. 13-1844, N.D. Ill.; 2014 U.S. Dist. LEXIS 15246).

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