SOURCE: Bernstein Litowitz Berger & Grossmann LLP
, No. 11-cv-9175 (S.D.N.Y.), asserts claims against BNY Mellon and certain of its senior executives under the Securities Exchange Act of 1934 ("Exchange Act") on behalf of investors in BNY Mellon common stock during the period of February 28, 2008 through August 11, 2011 (the "Class Period"). A previous notice issued by BLB&G on December 15, 2011 incorrectly stated that the class period began on February 21, 2008. The action also asserts claims under the Securities Act of 1933 ("Securities Act") against BNY Mellon, certain of its senior officers and directors, as well as the underwriters of two public offerings of BNY Mellon common stock conducted in May 2009 and June 2010 (the "Offerings") on behalf of persons who purchased or otherwise acquired BNY Mellon common stock pursuant and/or traceable to the Offerings.As set forth in the notice issued by BLB&G on December 15, 2011, the action alleges that during the Class Period, BNY Mellon and certain of its senior executives violated provisions of the Exchange Act by issuing false and misleading press releases, financial statements, filings with the Securities and Exchange Commission ("SEC") and statements during investor conference calls. As alleged in the Complaint, throughout the Class Period, BNY Mellon and certain of its senior executives misled investors regarding the Company's financial condition by reporting inflated revenue and concealing risks attributable to BNY Mellon's participation in a scheme to fraudulently overcharge its custodial clients for foreign currency ("FX") trades. The Complaint also seeks remedies under the Securities Act against BNY Mellon, certain of the Company's senior officers and directors, and certain underwriters for material misstatements and omissions contained in materials issued in connection with the Offerings.
Arguably, had post-war Bulgaria proceeded without communism, there could have been a full recovery on the tables of households, after the privations at the end of the war caused by food being diverted to the Nazi war machine.