MIAMI, March 22, 2011 /PRNewswire/ -- Criden & Love, P.A. ("Criden") today announced that a securities class action lawsuit was filed on March 22, 2011 in the United States District Court for the Southern District of New York on behalf of purchasers of Bank of America Corporation ("BAC") (NYSE: BAC) common stock during the period between July 1, 2008 and October 19, 2010, inclusive (the "Class Period"). If you wish to serve as lead plaintiff, you must move the Court no later than April 4, 2011. You need not seek to become a lead plaintiff in order to share in any possible recovery.
This action seeks damages for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated there under. The defendants are BAC, individually and as successor-in-interest to Countrywide Financial Corporation, Brian T. Moynihan, Charles H. Noski, Kenneth D. Lewis, and Joseph L. Price (collectively, "Defendants"). Prior to its acquisition by BAC, Countrywide was one of the world's largest residential mortgage lenders. As has now been widely reported, Countrywide's mortgage lending and servicing practices were rife with fraud, predatory tactics, and other misconduct. This action alleges that BAC adopted these practices and concealed material information and made false and misleading statements concerning the same, which artificially inflated the price of BAC stock until the truth was revealed.
Any member of the alleged class may seek to be appointed as lead plaintiff, even if that person has not filed a complaint, by complying with the relevant provisions of the Private Securities Litigation Reform Act of 1995 (the "PSLRA"). See 15 U.S.C. Section 78u-4(a)(2)(A)(I)-(iv). The Plaintiff - Patricia Grossberg Living Trust – seeks to recover damages on behalf of the class and is represented by Criden & Love, P.A., a firm with a strong background and significant experience in handling securities class actions and other complex litigation. If you have any questions about this Notice, the action, or your rights, please contact us at www.cridenlove.com.
CONTACT: Kevin Love Esq., +1-305-357-9000
SOURCE Criden & Love, P.A.