Oregon seeks to co-lead suit against Bank of New York Mellon

Portland Business Journal:

Oregon is seeking to co-lead a class action lawsuit against the Bank of New York Mellon Corp. over alleged currency exchange manipulation.

The suit seeks to recover at least $15.7 million that the Oregon Common School Fund and Oregon Public Employees Retirement Fund lost as a result of the alleged scheme.

According to a press release from Oregon Treasurer Ted Wheeler and Attorney General John Kroger, the losses were triggered by the manipulation of foreign currency exchange rates that came to light after whistleblowers accused BNY Mellon of rigging prices to obtain higher profits...

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