San Diego, Oct. 27, 2011 (Shareholders Foundation) -- An investigation on behalf of former and current employees of The Bank of New York Mellon Corporation (NYSE: BK) concerning potential Breaches of Fiduciary Duty was announced.

The investigation for former and current employees of The Bank of New York Mellon Corp. follows an earlier investigation for investors in NYSE BK shares over possible breaches of fiduciary duties. According to the investigation by a law firm employees (former and current) of the Bank of New York Mellon may also be eligible to file a complaint for putting stocks at risk if they can prove their employer violated its fiduciary duty to them. Specifically, the investigation concerns whether administrators violated the Employee Retirement Income Security Act of 1974 ('ERISA') by investing and/or continuing to invest assets in company stock when it was not a prudent investment for participants' retirement savings.

Earlier this year a media report stated that the U.S. Securities and Exchange Commission (SEC) reportedly is examining whether Bank of New York Mellon Corporation possible'made proper representations to pension-fund clients about how their currency trades would be handled and priced.' The article further reported that in previously filed lawsuits several pension funds alleged that Bank of New York Mellon Corporation, among others, allegedly 'falsified foreign-exchange rates for the funds to the benefit of the banks.' The article said that according to its own analysis of 9,400 trades over a decade for a county employees retirement fund showed that 'Bank of New York Mellon Corporation priced 58% of currency trades within the 10% of each day's 'interbank' trading range that was least favorable to the fund.'

The Bank of New York Mellons financial performance increased over the past two years. The Bank of New York Mellon reported that its annual Net Income rose from a Net Loss of $1.08billion in 2009 to a Net Income of $2.51billion for 2010. Its second quarter Net Income rose from $1,006million last year to $1,034million this year.

Shares of The Bank of New York Mellon Corporation (Public, NYSE:BK) rose from as low as $18.25 per share to as high as $32.37 per share in January 2011. However, NYSE: BK shares fell from over $49 per share in December 2007, respectively almost $48 per share in February 2008.