What's Next for Bank Of America Corporation Shareholders After 4.76% Stock Drop? Glancy Prongay Wolke & Rotter LLP Explains Securities Fraud Class Action Lead Plaintiff Deadline
Complaint alleges Bank Of America Corporation misled investors between August 1, 2025 and October 13, 2026; investors may seek lead plaintiff role by December 15, 2026
LOS ANGELES, Oct. 27, 2026 /PRNewswire/ -- Glancy Prongay Wolke & Rotter LLP ("Glancy") announced today that the class action lawsuit covers investors who bought Bank Of America Corporation ("Bank of America" or the "Company") (NYSE: BAC) securities between August 1, 2025 and October 13, 2026. The Bank Of America Corporation case, New England Teamsters Pension Fund v. Bank of America Corporation et al., was filed on October 16, 2026 in the U.S. District Court Southern District of New York (Case No. 1:26-cv-09137).
Investors who suffered losses on Bank Of America Corporation investments can submit their Bank Of America Corporation loss information here before the December 15, 2026 lead plaintiff deadline.
Key dates in the Bank Of America Corporation case
- Class period: August 1, 2025 to October 13, 2026
- Complaint filed: October 16, 2026
- Lead plaintiff deadline: December 15, 2026
What happened?
On October 13, 2026, the U.S. Department of the Treasury announced a $1.2 billion fine against Bank of America Corporation for violations of anti-money laundering and sanctions laws. According to the Department of the Treasury, Bank of America Corporation failed to mitigate and report priority national security risks. The Department of the Treasury also found that the Company's Bank Secrecy Act and anti-money laundering compliance programs were deficient and ineffective.
On this news, Bank of America stock fell $2.57 or, 4.76%, to close at $51.39 on October 14, 2026, thereby injuring investors.
What is the Bank Of America Corporation lawsuit about?
The Bank Of America Corporation securities lawsuit alleges that, between August 1, 2025 and October 13, 2026, defendants made materially false and/or misleading statements and failed to disclose material adverse facts about Bank Of America Corporation's business, operations, and prospects. Specifically, the complaint alleges defendants failed to disclose that: (1) systemic weaknesses in BANA's BSA/AML program caused it to fail to properly monitor trillions of dollars in transactions and to miss, delay, or file inaccurate or incomplete suspicious activity reports involving billions of dollars in suspicious activity; (2) internal reports had documented BANA's BSA/AML deficiencies for years, yet BANA had not adequately remedied them after the 2024 Consent Order; (3) BANA also had deficiencies in its sanctions compliance program and processed transactions later identified as apparent violations of multiple sanctions programs; (4) fixing these deficiencies required significant additional compliance resources and exposed BANA to substantial penalties and costs; and (5) as a result, defendants' positive statements about Bank Of America Corporation's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
"The complaint against Bank Of America Corporation alleges, among other things, that the Company failed to disclose that systemic weaknesses in BANA's BSA/AML program caused it to fail to properly monitor trillions of dollars in transactions and to miss, delay, or file inaccurate or incomplete suspicious activity reports involving billions of dollars in suspicious activity. For investors who purchased during the class period, the December 15, 2026 lead plaintiff deadline is the first significant deadline to keep in mind," said Charles H. Linehan, Partner at Glancy Prongay Wolke & Rotter LLP.
What's the next step?
Glancy Prongay Wolke & Rotter LLP is a leading national shareholder rights law firm, ready to assist Bank Of America Corporation investors in potentially pursuing claims to recover their losses.
If you wish to serve as lead plaintiff in the Bank Of America Corporation class action, you must move the Court no later than December 15, 2026. To learn more about your rights, visit the Bank Of America Corporation case page, email [email protected], or call 310-201-9150 (toll-free: 888-773-9224).
You may retain counsel of your choice. If you bought Bank Of America Corporation securities during the class period, you may take no action and remain an absent class member. No class has been certified yet in the Bank Of America Corporation case.
Frequently Asked Questions
Who is eligible? Investors who purchased or otherwise acquired Bank Of America Corporation securities between August 1, 2025 and October 13, 2026 and suffered losses may be members of the proposed class in the Bank Of America Corporation shareholder lawsuit. Any class member may ask the court to appoint them lead plaintiff by December 15, 2026.
What is a lead plaintiff? In the Bank Of America Corporation class action, the lead plaintiff is the investor, or group of investors, that the court appoints to represent all class members and oversee the case. Under the Private Securities Litigation Reform Act, courts generally presume the movant with the largest financial interest is the most adequate lead plaintiff.
Do I have to be lead plaintiff to recover? No. A Bank Of America Corporation investor's ability to share in any future recovery does not depend on serving as lead plaintiff. Bank Of America Corporation investors may take no action and remain absent class members.
What is the deadline? Motions to serve as lead plaintiff in the Bank Of America Corporation class action must be filed by December 15, 2026.
Does it cost anything to contact Glancy or participate in this action? Glancy represents Bank Of America Corporation investors on a contingency fee basis, so investors pay no attorneys' fees out of pocket. Any attorneys' fees and litigation expenses are paid only from a recovery, if one is obtained, and are subject to court approval.
Can I choose my own lawyer? Yes. Bank Of America Corporation investors may retain counsel of their choice.
Why work with Glancy on the Bank Of America Corporation lawsuit? Glancy Prongay Wolke & Rotter LLP is a premier law firm with decades of experience representing investors and consumers in securities litigation and other complex class action litigation. Contact Glancy about the Bank Of America Corporation lawsuit. Prior results do not guarantee a similar outcome.
About Glancy Prongay Wolke & Rotter LLP
Glancy was named one of Law360's Securities Groups of the Year and ranked second in total investor recoveries by ISS Securities Class Action Services in 2025.
Glancy's successes have been widely covered by leading news and industry publications, including The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money.
Prior results do not guarantee a similar outcome.
Related links
- Bank Of America Corporation case page, Glancy Prongay Wolke & Rotter LLP
- Complaint: New England Teamsters Pension Fund v. Bank of America Corporation et al., U.S. District Court Southern District of New York
- Bank Of America Corporation SEC filings index, EDGAR
- Glancy Prongay Wolke & Rotter LLP
Contact
Glancy Prongay Wolke & Rotter LLP
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Email: [email protected]
Telephone: 310-201-9150 | Toll-free: 888-773-9224
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SOURCE Glancy Prongay Wolke & Rotter LLP
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