Class Counsel Announce Pendency of Class Action in the Bank of America Corp. Securities Litigation.

NEW YORK, March 29, 2012 /PRNewswire/ -- The following statement is being issued by Kaplan Fox & Kilsheimer LLP, Bernstein Litowitz Berger & Grossmann LLP, Kessler Topaz Meltzer & Check LLP regarding the Bank of America Corp. Securities Litigation.

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

IN RE BANK OF AMERICA CORP. SECURITIES, DERIVATIVE, AND EMPLOYEE RETIREMENT INCOME SECURITY ACT (ERISA) LITIGATION

THIS DOCUMENT RELATES TO: Consolidated Securities Action

Master File No. 09 MD 2058 (PKC)
ECF CASE

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION

To:  All persons and entities who (1) held Bank of America Corporation ("BoA") common stock as of October 10, 2008, and were entitled to vote on the merger between BoA and Merrill Lynch & Co., Inc. ("Merrill") that was consummated on January 1, 2009; (2) purchased or otherwise acquired the common stock of BoA during the period from September 18, 2008 through January 21, 2009, inclusive, excluding shares of BoA common stock acquired by exchanging Merrill common stock for BoA common stock through the merger between the two companies; (3) purchased or otherwise acquired January 2011 call options on BoA common stock during the period from September 18, 2008 through January 21, 2009, inclusive; and (4) purchased BoA common stock issued under the Registration Statement and Prospectus and October 7, 2008 Supplemental Prospectus of BoA in the common stock offering that occurred on or about October 7, 2008.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that the above-captioned litigation (the "Action") has been certified as a class action.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THIS ACTION.  A full printed Notice of Pendency of Class Action is currently being mailed to known Class Members.  If you have not yet received the full printed Notice, you may obtain copies of this document by contacting:

In re Bank of America Corp. Securities Litigation
c/o The Garden City Group, Inc.
PO Box 9876
Dublin, Ohio 43017-5776
(855) 733-8308
www.boasecuritieslitigation.com

Inquiries, other than requests for the Notice, may be made to Class Counsel:

Robert N. Kaplan
Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Ave, 14th Fl.
New York, NY 10022
(212) 687-1980

Max W. Berger
Steven B. Singer
BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
1285 Avenue of the Americas
New York, NY 10019
(212) 554-1400

David Kessler
Gregory Castaldo
KESSLER TOPAZ MELTZER & CHECK LLP
280 King of Prussia Road
Radnor, PA 19087
(610) 667-7706

If you are a Class Member, you have the right to decide whether to remain a member of the Class.  If you choose to remain a member of the Class, you do not need to do anything at this time other than to retain your documentation reflecting your transactions and holdings in BoA common stock or January 2011 call options on BoA common stock.  You will automatically be included in the Class.  If you are a Class Member and do not exclude yourself from the Class, you will be bound by the proceedings in this Action, including all past, present and future orders and judgments of the Court, whether favorable or unfavorable.   

If you ask to be excluded from the Class, you will not be bound by any order or judgment of this Court, and you will not be eligible to receive a share of any money which might be recovered for the benefit of the Class.  To exclude yourself from the Class, you must submit a written request for exclusion postmarked no later than May 7, 2012 in accordance with the instructions set forth in the full printed Notice.   Pursuant to Rule 23(e)(4) of the Federal Rules of Civil Procedure, it is within the Court's discretion as to whether a second opportunity to request exclusion from the Class will be allowed if there is a settlement or judgment in the Action. The trial in this action has been scheduled by the Court to begin at 10:00 a.m. on October 22, 2012.

Further information may be obtained by directing your inquiry in writing to the Notice Administrator.

BY ORDER OF THE COURT:
United States District Court
For the Southern District of New York

______________________________

Source: KAPLAN FOX & KILSHEIMER LLP, BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP, KESSLER TOPAZ MELTZER & CHECK LLP

SOURCE Kaplan Fox & Kilsheimer LLP; Bernstein Litowitz Berger & Grossmann LLP; Kessler Topaz Meltzer & Check, LLP