A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Bank of America Corporation (NYSE: BAC) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on November 14, 2016 and NYSE: BAC investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 11/14/2016 --The Shareholders Foundation announced that a deadline is coming up on November 14, 2016 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Bank of America Corporation (NYSE: BAC) between February 27, 2009 and October 19, 2010.

Investors who purchased a significant amount of shares of Bank of America Corporation (NYSE: BAC) between February 27, 2009 and October 19, 2010, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Bank of America Corporation (NYSE: BAC) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/bank-america-corporation-nyse-bac-investor-securities-class-action-lawsuit-02022011

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is November 14, 2016. The class action administrator for this case is Heffler Claims Group.

The lawsuit was originally filed in the U.S. District Court for the Southern District of New York against Bank of America Corporation (NYSE: BAC) over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between January 20, 2010 and October 19, 2010. According the complaint the plaintiff alleges on behalf of all purchasers of Bank of America Corporation (NYSE: BAC) common stock during the period between January 20, 2010 and October 19, 2010 that Bank of America Corporation and certain of its officers and directors violated against the Securities Exchange Act of 1934. The complaint alleges that between January 20, 2010 and October 19, 2010 defendants issued materially false and misleading statements regarding the Company's business. Defendants concealed defects in the recording of mortgages and improprieties with respect to the preparation of foreclosure paperwork that harmed Bank of America Corporation's investors when Bank of America Corporation had to temporarily discontinue foreclosures and admit to the problems it was experiencing. For much of between January 20, 2010 and October 19, 2010, defendants allegedly also concealed that Bank of America Corporation had previously engaged in a practice known as "dollar rolling," wherein it omitted billions of dollars in debt from its balance sheet reported to the public. According to the complaint, as a result of defendants' false statements, Bank of America Corporation's stock traded at artificially inflated prices between January 20, 2010 and October 19, 2010, reaching a high of $19.48 per share on April 15, 2010.

Beginning in May 2010, Bank of America Corporation began disclosing aspects of its "repo-to-maturity" transactions (dollar rolling), claiming the transactions did not have a material impact on Bank of America Corporation's balance sheet. Later, in October 2010, Bank of America Corporation announced a nationwide foreclosure halt pending a review of its foreclosure processes and whether there were irregularities with respect to its previously completed foreclosure activities. Then, on October 19, 2010, Bank of America Corporation announced its third quarter 2010 financial results, reporting a net loss of $7.3 billion and a diluted earnings per share loss of $0.77. Bank of America Corporation further reported receiving $18 billion in claims about faulty home loans that it may have to repurchase. On this news, Bank of America Corporation stock dropped $0.54 per share, to close at $11.80 per share on October 19, 2010 – a one-day decline of 5% and a nearly 42% decline from the stock's high between January 20, 2010 and October 19, 2010.

Those who purchased shares of Bank of America Corporation have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com