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Home / Consumer Protection / Walden v. The Bank of New York Mellon Corporation and BNY Mellon, N.A., Case No. 2:20-cv-01972 USDC (E.D. Pa.)

Walden v. The Bank of New York Mellon Corporation and BNY Mellon, N.A., Case No. 2:20-cv-01972 USDC (E.D. Pa.)

Categories: Consumer Protection Tags: consumer protectionFebruary 15, 2021 by Mark York Leave a Comment

BANK of NEW YORK and MELLON BANK “Private Wealth Client” Fiduciary Breaches
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The case is Walden v. The Bank of New York Mellon Corporation and BNY Mellon, N.A., Case No. 2:20-cv-01972-CRE in the United States District Court for the Western District of Pennsylvania. A link to the  complaint is  here.
The primary claims assert that clients of BNY Mellon’s wealth management division collectively deposited millions of dollars in their respective accounts and vested BNY Mellon with full investment authority over those funds. BNY Mellon and BNY Corp. promised that BNY Mellon would act as a fiduciary for its wealth management clients and represented that “[u]nder the fiduciary standard, financial advisors have a legal obligation to put the best interests of the client ahead of their own when making investment recommendations.
Mark York
Mark York
masstortnews.org/
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Categories: Consumer Protection Tags: consumer protection

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