Bank of America Corporation Securities Litigation

United States District Court for the Southern District of New York, No. 11-CV-00733-WHP

**UPDATE:  A supplemental distribution of the Net Settlement Fund took place on January 26, 2024.**


A proposed settlement in the amount of $335,000,000.00 in cash has been reached in the action captioned Pennsylvania Public School Employees’ Retirement System, individually and on behalf of all other similarly situated v. Bank of America Corporation et al., No. 11-CV-00733-WHP. The action was brought on behalf of all persons who purchased or otherwise acquired either Bank of America’s (“BoA”) common stock or Common Equivalent Securities during period from February 27, 2009 through October 19, 2010 (“Class Period”), and who suffered damages as a result (the “Class”). The Settlement will resolve all claims against all Defendants in this class action.

* A hearing was held on November 29, 2016, at 2:00 p.m., before United States District Judge William H. Pauley III, at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, Courtroom 20B, New York, NY 10007-1312 to consider whether the Settlement is fair, reasonable and adequate. The Court also considered the proposed Plan of Allocation for the proceeds of the Settlement, applications for attorneys’ fees and reimbursement of expenses, and any written objections filed in accordance with the instructions set out in the Notice. You may view relevant court documents in the Documents section of this website.

The Settlement, if approved by the Court, will: resolve claims in the action that BoA’s investors were misled about the Company’s exposure to billions of dollars in repurchase claims stemming from mortgages securitized and sold into the marketplace as residential mortgage-backed securities , and about risks arising from the Company’s reliance on an allegedly inadequate mortgage processing and tracking system known as “MERS”; provide a cash payment to Class members who timely submit valid claims and are otherwise entitled to such a payment; and release the Defendants from liability.

To be eligible to receive a payment under the proposed Settlement, you must have submitted a valid proof of claim establishing your membership in the Class along with all required documentation on or before the claim filing deadline of November 14, 2016. All late claims will be subject to Court approval.

NOTE: All Capitalized terms are defined in the Settlement Agreement.

This website is authorized by the Court, supervised by counsel and controlled by Kroll Settlement Administration LLC, the Settlement Administrator approved by the Court. This is the only authorized website for this case.

For more information please call 1-800-644-7835 or Outside the US & Canada: 215-845-4405

Important Dates

  • Exclusion Deadline

    Tuesday, September 13, 2016


  • Objection Deadline

    Tuesday, September 13, 2016


  • Claim Form Deadline

    Monday, November 14, 2016

    Online and Post-Marked

  • Final Approval Hearing Date

    Tuesday, November 29, 2016

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