BNY Mellon Trust Beneficiaries Win Class Cert. In Fees Suit

By Chris Villani

Law360, Boston (September 14, 2018, 6:01 PM EDT) — A group of trust beneficiaries accusing Bank of New York Mellon NA of charging excessive and undisclosed fees on tax returns was granted class certification by a Massachusetts federal judge Friday, who also kept on the lead plaintiff despite a history of disagreements between her and lead class counsel.

Chief U.S. District Judge Patti B. Saris narrowed the scope of the class to only those who had paid “line-item” fees to BNY Mellon and denied summary judgment victories for both the class and the bank. The…