BNY Mellon adjusts 4Q earnings to reflect $598M in litigation costs

The Bank of New York Mellon Corp. has adjusted its fourth-quarter 2014 financial results to include $598 million in after-tax litigation expenses, so net income for the three months was $209 million, or 18 cents per share, in recognition of the expense. Based in New York, BNY Mellon (NYSE:BK) is among the largest employers in Pittsburgh and is the region's third-biggest financial institution by deposit market share. BNY Mellon reported fourth-quarter net income of $667 million, or 58 cents per…