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Law Office of Brodsky & Smith, LLC Announces Investigation of Bank of New York Mellon Corp.

^{Published on 2011-10-06 19:43:36 - Market Wire}
 

BALA CYNWYD, Pa.--([ BUSINESS WIRE ])--Law office of Brodsky & Smith, LLC announces that it is investigating Bank of New York Mellon Corp. (aBKa or the aCompanya) (NYSE: BK) investment of Plan participants and beneficiaries assets in company stock. The investigation concerns whether administrators breached their fiduciary duties and violated the Employee Retirement Income Security Act of 1974 (aERISAa) by investing and/or continuing to invest assets in company stock when it was not a prudent investment for participantsa™ retirement savings.

The investigation concerns improper behavior that harmed current and former employees that invested in the 401(k) plan. Specifically, it has been announced that the Attorney Generals for New York, Florida, and Virginia have filed suit accusing the Company of overcharging state and other pension funds on foreign exchange fees and defrauding customers in the foreign exchange markets. At one time, approximately 13% of the participantsa™ assets were held in Company stock.

If you held BK stock in an individual account under any of the Companya™s 401(k) plans and wish to discuss the legal ramifications of the administratora™s investment in Company stock, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at [ investorrelations@brodsky-smith.com ], visiting [ http://brodsky-smith.com/338-bk-bank-of-new-york-mellon-corp.html ], or by calling toll free 877-LEGAL-90.