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Feb 17 (Reuters) - BNY Mellon Corp, the world’s No. 1 custody bank, said it included an additional after-tax legal expense of $598 million to its reported fourth-quarter results, anticipating resolution of foreign exchange-related actions and other matters.
The expense would lower net income to $209 million, or 18 cents per share, from previously stated $807 million, or 70 cents per share, the company said.
BNY Mellon disclosed in a filing in January that U.S. regulators were considering charging it with violating U.S. foreign bribery laws after an investigation into internships it gave to relatives of sovereign wealth fund officials.
But a company spokesman on Tuesday declined to comment whether the legal costs were associated with the alleged violations of the Foreign Corrupt Practices Act.
The custody bank took a litigation and restructuring charge of $10 million when it reported its quarterly results last month.
BNY Mellon’s shares closed at $39.46 on the New York Stock Exchange on Tuesday. (Reporting by Avik Das in Bangalore; Editing by Sriraj Kalluvila)