[ by Melanie Gretchen ] Bank of New York Mellon Corp. must defend itself in court on a complaint filed by a Los Angeles pension fund that BNY had overcharged the fund on forex (foreign exchange) transactions.  The judge made the ruling last week.  Going forward, BNY faces charges of breach of contract, breach of fiduciary duty, unfair business practices, and fraud by concealment. Findings and Allegations. The funds said in a complaint filed last year that New York-based BNY Mellon said it would use "best practices" when executing forex transactions to give its clients the highest price when in fact it used the least advantageous prices and secretly profited from the difference. Verdict. In the bank's favor, U.S. District Judge William Alsup in San Francisco threw out allegations under the California False Claims Act.  He dismissed those same claims by another Los Angeles pension fund and funds in San Diego and Stanislaus counties, saying said they could be refiled in courts in those locations. The case: In Re Bank of New York Mellon Corp. (BK) False Claims Act Foreign Exchange Litigation, 11-5683, U.S. District Court, Northern District of California (San Francisco). For further details, go to [Bloomberg, 3/31/12].