BNY Mellon Wins Dismissal of Forex Derivative Suits Following Internal Investigation

On December 2, 2016, Vice Chancellor Sam Glasscock III of the Delaware Court of Chancery dismissed two shareholder derivative lawsuits alleging that The Bank of New York Mellon Corporation improperly handled foreign exchange transactions. His decision was based in part on an independent internal investigation conducted by Cravath that concluded the claims had no sound legal basis.

The Cravath team on the investigation included partners John W. White, Rachel G. Skaistis and Benjamin Gruenstein.