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BNY Scores Exit In Mutual Fund Conflict Of Interest Suit

By Sydney Price ( December 16, 2024, 10:18 PM EST) -- A Pennsylvania federal magistrate judge on Monday granted The Bank of New York Mellon's bid to toss a proposed class action claiming that it failed to disclose conflicts of interest when funneling client assets into mutual funds and other investment vehicles that favored the bank, ruling that the claims are preempted by the Securities Litigation Uniform Standards Act....

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