Forex Suits Hitting Hurdles.

This article discusses litigation brought against the Bank of New York Mellon Corp. and the State Street Corp. concerning their alleged overcharging of clients in foreign-exchange trades for public pension funds. Topics include the status of lawsuits brought against the companies by California municipalities and the state of Virginia, the alleged claim that the companies violated the U.S. False Claims Act, and the origination of the cases as civil suits filed by company whistleblowers.