BNY Mellon announced that on July 5 it entered into a settlement agreement related to a previously disclosed class action lawsuit pending in federal court in Oklahoma and initiated by CompSource Oklahoma concerning losses in connection with the investment of securities lending collateral in Sigma Finance. The settlement agreement is subject to court approval. The company recorded an after-tax charge in the Q2 of FY12 of approximately $210M, or $350Mpre-tax, primarily related to claims involving Sigma investments. This charge includes in part the expected payment of $280 million settling the Sigma-related class action.
Asian stocks fell to one-month lows on Friday and the yen rebounded broadly as extreme volatility in the Nikkei …