A circuit court judge in Virginia dismissed a suit that charged BNY Mellon with overcharging the state’s pension fund for foreign exchange transactions.

Fairfax County judge R. Terence Ney dismissed all claims made by the state of Virginia as well as counterclaims by BNY Mellon, which had been charged with “reaping illicit profits” by adding hidden mark-up and mark-downs that caused the fund to overpay when buying currencies and receiving “much less than it should have for sells.”

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