Companies Rejected by U.S. Supreme Court in $1.5 Billion Tax Cases

  • BNY Mellon, AIG and BB&T turned away on tax-avoidance strategy
  • Lower courts said Barclays strategy lacked economic substance

The U.S. Supreme Court is seen in at dusk on Feb. 14, 2016 in Washington.

Photographer: Drew Angerer/Getty Images

The U.S. Supreme Court turned away appeals from three financial-services companies that sought to save a total of $1.5 billion by using a tax-avoidance strategy designed by Barclays Plc.

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