Bloomberg – Bank of New York Mellon Corp. (BK), the largest custody bank, faces increased pressure to reach settlements on foreign-exchange cases following new lawsuits brought by New York and federal officials.
The New York attorney general and the U.S. Attorney’s Office in Manhattan, each of which filed complaints yesterday, bring deeper resources and more expertise on financial cases, Barry Barbash, head of the asset-management group at law firm Willkie Farr & Gallagher LLP, said in an interview from his Washington office. New York Attorney General Eric T. Schneiderman can also wield the state’s powerful Martin Act, he said.
