The BOARD OF TRUSTEES OF the SOUTHERN CALIFORNIA IBEWNECA DEFINED CONTRIBUTION PLAN, on behalf of itself and all others similarly situated, Plaintiff, v. The BANK OF NEW YORK MELLON CORPORATION, et al., Defendants.

The article discusses the court case IBEW-NECA Board v. Bank of New York Mellon, presented before the U.S. District Court, Southern District of New York in which trustees of union's Employee Retirement Income Security Act (ERISA) of the U.S. sued banks of the U.S. for class action. It also reveals that the District Court Judge Richard M. Berman announced that the proposed did not satisfy various requirements and class action is not a good method for adjudicating action.