Www.BoASecuritiesLitigation.com – Bank of America Securities Fraud Class Action Lawsuit Settlement
The original lawsuit is known as the In re Bak of America Corp. Securities Litigation. The reason for the $2.425 billion settlement was because of the acquisition of Merrill Lynch. The shareholders were not happy about this because this happy in 2008 when there was a financial crisis. The bank basically did not inform the investors of this acquisition. This is in violation of the federal securities laws. Another reason that the investors are upset is because the company being acquired, Merrill Lynch, had billions in losses. This was during the 2008 fourth quarter. If you are a shareholder and would like to take part, then you can file a claim form at the www.BoASecuritiesLitigation.com site. The deadline for you to file is April 25, 2013. The only way you can file is to download the form and fill it in.
If you want to get the detailed information on the Bank of America Securities Fraud Class Action Lawsuit Settlement, you can download a copy at the www.BoASecuritiesLitigation.com site. This is a PDF just like the claim form. In order to view this, you will need the Adobe Acrobat reader. You can download the Reader for free from the Internet. If you google it, you will be able to find a link to download it. So based on the amount of the shares that were bought, it will be about approximately $0.43 per share. The attorneys will get 6.56% of the settlement funds. So the court has appointed Steven B. Singer, Esq. to represent the class and also the lead plaintiffs. Also appointed are Robert N. Kaplan, Esq and David Kessler, Esq. You can get detailed information on addresses, phone numbers and email address in the notice which can be found on the website.
You can no longer exercise your legal right to opt out of the class action because the due date is past. The due date for this was March 5, 2013. You can also no longer object to the settlement because due date of that has also passed. That due date was also March 5, 2013. In addition the Final Fairness Hearing has also passed. This was on April 5, 2013. So you can no longer attend that either. So if you just found out about the Bank of America Securities Fraud Class Action Lawsuit Settlement, you only have two options. The first option is to file a claim form. The second option is to do nothing. If you file a claim form, you will get the compensation. If you do nothing, then you get nothing at all. This means that you give up all your rights. So I would suggest that you fill in the claim form which you can get at the official website and submit that as that is your only option that makes any sense. Why would you not do it as you can no longer opt out. That means that since you can no longer sue the company for anything, why not take the money?
The period covered for the purchase of the BoA common stock or the call options for January 2011 is September 18, 2008 to January 21, 2009. You are also included as a class member if you had BoA common stock from October 10, 2008 onwards. I know a lot of people who were very upset about this. I personally do not own any stocks in the company because my experiences with them have been extremely bad. Well I decided to get their home mortgage loan. It was a big mistake for me because it was a nightmare from start to finish. I was arguing and fighting with them or pleading to move my case forward. In fact it went right down to the day of the close. It was very scary for me and very unprofessional of them to promise me one thing and do the very opposite.
So no, I would not have bought their stock for any reason whatsoever. However if you did, and you lost a ton of money when the acquisition or merger happened, then you have a chance of getting some of that back. Make sure that you fill out the paperwork carefully. You do not want to be denied for inaccuracy or improperly filling out the form. If you are not sure if you are included, just contact the settlement administrator or even the lead counsel.
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