Banking Latest News: Judge Dismisses Lawsuit Against Bank of NY Mellon Executives

Wochit 0:57 mins

Bank of New York Mellon Corp officers and directors won the dismissal of a shareholder lawsuit accusing them of shirking their duties by letting the bank overcharge clients for trading currencies. Stocks opened lower on Wall Street, tracking international weakness despite an upbeat report on hiring in the United States. In early trading, the Standard & Poor?s 500-share index fell 0.3 percent, the Dow Jones industrial average lost 0.1 percent and the Nasdaq composite was 0.1 percent lower. It's been just over 100 days since its financial rescue and Cyprus is struggling to cope with life under the terms of its international bailout. The country's shell-shocked banking system is still reeling from a punishing restructuring while harsh capital controls at the banks are holding back spending

View Comments