Bank Of America Corporation (“Bank of America” or the “Company”) (NYSE: BAC) is the subject of a securities fraud class action lawsuit filed on behalf of investors who purchased or otherwise acquired the Company’s securities from August 1, 2025 through October 13, 2026, inclusive. The Law Offices of Howard G. Smith today reported the lawsuit, New England Teamsters Pension Fund v. Bank of America Corporation et al., which was filed on October 16, 2026 in the U.S. District Court Southern District of New York (Case No. 1:26-cv-09137). The deadline for Bank Of America Corporation investors to file a lead plaintiff motion is December 15, 2026.
Investors with losses on Bank Of America Corporation securities can contact The Law Offices of Howard G. Smith about the Bank Of America Corporation class action to discuss potential claims under the federal securities laws before the December 15, 2026 lead plaintiff deadline.
Important dates in the Bank Of America Corporation case
- Complaint filing date: October 16, 2026
- Court: U.S. District Court Southern District of New York
- Class period: August 1, 2025 through October 13, 2026, inclusive
- Deadline for lead plaintiff motions: 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.
Allegations in the Bank Of America Corporation lawsuit
The Bank Of America Corporation shareholder lawsuit alleges that, throughout the class period, 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 to investors 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 at all relevant times.
Bank Of America Corporation investors who purchased or otherwise acquired securities during the class period may move the Court by December 15, 2026 to seek appointment as lead plaintiff in this putative class action.
“The lawsuit against Bank Of America Corporation alleges that, among other things, the Company failed to tell investors 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. Bank Of America Corporation investors who bought during the class period may be able to pursue their losses through this class action, and the December 15, 2026 lead plaintiff deadline is an important first date,” said Howard G. Smith of The Law Offices of Howard G. Smith.
Next steps for Bank Of America Corporation investors
Bank Of America Corporation investors who suffered losses may contact The Law Offices of Howard G. Smith to learn about pursuing their claims. For more information, visit the firm’s website, email howardsmith@howardsmithlaw.com, or call (215) 638-4847.
To be a member of the Bank Of America Corporation class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member. No class has been certified so far in the Bank Of America Corporation case.
Common questions from Bank Of America Corporation investors
Who is eligible? Investors who acquired Bank Of America Corporation securities from August 1, 2025 through October 13, 2026 and suffered losses may qualify for the class in the Bank Of America Corporation shareholder lawsuit.
Where is the Bank Of America Corporation case pending? The Bank Of America Corporation class action, New England Teamsters Pension Fund v. Bank of America Corporation et al., is pending in the U.S. District Court Southern District of New York (Case No. 1:26-cv-09137).
Do I have to do anything to be in the Bank Of America Corporation class? No, Bank Of America Corporation investors need not take any action at this time and may remain absent class members.
Does it cost anything? The Law Offices of Howard G. Smith works on contingency, so investors pay no attorneys’ fees unless there is a recovery, and any fees require court approval.
About The Law Offices of Howard G. Smith
The Law Offices of Howard G. Smith has helped injured investors recover their money for more than 15 years. The firm prosecutes securities fraud, takeover, and derivative litigation against public companies and their officers, directors, and advisors in federal and state courts nationwide, and has helped clients recover hundreds of millions of dollars in losses. Clients speak directly with a lawyer, who will promptly answer any question.
Prior results do not guarantee a similar outcome.
Related links
- Bank Of America Corporation case page, The Law Offices of Howard G. Smith
- 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
- The Law Offices of Howard G. Smith
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View source version on businesswire.com: https://www.businesswire.com/news/home/20261020637530/en/
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