A Virginia judge dismissed a lawsuit alleging BNY Mellon overcharged the state’s pension funds for foreign currency exchanges.  According to the judge, the state failed to establish that BNY Mellon had submitted a claim for payment, as required under Virginia’s Fraud Against Taxpayers Act.

A California judge dismissed similar allegations under California’s False Claims Act last month, but allowed several other allegations to go forward.  Related suits brought by Florida, New York, and the federal government are still pending.

Read the entire article, “Virginia’s $1B suit against N.Y. bank tossed out”
Read our earlier post, “FCA Allegations Dismissed in BNY Mellon Case”