The law firm of Bernstein Litowitz Berger & Grossmann LLP announces a proposed settlement of the In re: Bank of New York Mellon Corp. FOREX Transactions Litigation securities class action.

Aug 11, 2015, 07:59 ET from Bernstein Litowitz Berger & Grossmann LLP

NEW YORK, Aug. 11, 2015 /PRNewswire/ --

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK


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In re:

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CIVIL ACTION NO.

BANK OF NEW YORK MELLON CORP.

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MASTER FILE

FOREX TRANSACTIONS LITIGATION

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12 MD 2335 (LAK)


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This Document Relates to: 11-CV-09175

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SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION,
CERTIFICATION OF SETTLEMENT CLASS, AND PROPOSED SETTLEMENT;
(II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR AN AWARD OF
ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES

TO:  All persons and entities who or which purchased the common stock of The Bank of New York Mellon Corporation ("BNYM") during the period beginning on February 28, 2008 through and including October 4, 2011, and were damaged thereby (the "Settlement Class"):

PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that the above-captioned litigation (the "Action") has been preliminarily certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full printed Notice of (I) Pendency of Class Action, Certification of Settlement Class, and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice").

YOU ARE ALSO NOTIFIED that Lead Plaintiff in the Action has reached a proposed settlement of the Action for $180,000,000 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.

A hearing will be held on October 20, 2015 at 10:00 a.m., before the Honorable Lewis A. Kaplan at the United States District Court for the Southern District of New York, Courtroom 21B of the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007, to determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated June 23, 2015 (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.

If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. If you have not yet received the Notice and the Proof of Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at In re Bank of New York Mellon Corp. Securities Action, c/o Epiq Systems, P.O. Box 3410, Portland, OR 97208-3410, 1-877-819-9774. Copies of the Notice and Proof of Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.BNYMFXSecuritiesLitigation.com.

If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Proof of Claim Form postmarked no later than December 11, 2015. If you are a Settlement Class Member and do not submit a proper Proof of Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.

If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than September 29, 2015, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and reimbursement of expenses, must be filed with the Court and delivered to Lead Counsel and Representative Defendants' Counsel such that they are received no later than September 29, 2015, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Clerk's office, BNYM, or its counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.




Inquiries, other than requests for the

Notice and Proof of Claim Form,

should be made to Lead Counsel:

Requests for the Notice and Proof of Claim

Form should be made to:




BERNSTEIN LITOWITZ

BERGER & GROSSMANN LLP

John C. Browne, Esq.

1285 Avenue of the Americas

New York, NY 10019

1-800-380-8496

blbg@blbglaw.com

In re Bank of New York

Mellon Corp. Securities Action

c/o Epiq Systems

P.O. Box 3410

Portland, OR 97208-3410

1-877-819-9774

www.BNYMFXSecuritiesLitigation.com

By Order of the Court

 

SOURCE Bernstein Litowitz Berger & Grossmann LLP