Bank of America Corporation (NYSE: BAC) SHAREHOLDER ALERT: Investors With Losses May Seek to Lead the Class Action in Bank of America Corporation Securities Lawsuit - Contact Portnoy Law Firm

LOS ANGELES, Oct. 28, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm notifies investors in Bank of America Corporation (NYSE: BAC) that a securities class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired Bank of America common stock between August 01, 2025 and October 13, 2026, inclusive (the 'Class Period'). Find out if you qualify to recover your per-share losses by choosing to join the class action and submit your trade details. Investors who suffered financial losses have until December 15, 2026 to seek appointment as lead plaintiff. Shareholders should contact Lesley Portnoy via e-mail (Lesley@portnoylaw.com or call (310) 692-8883) or visit http://portnoylaw.com/bank-of-america-corporation to learn more information and discuss their legal rights.
Please visit our website for more information on how to participate in this class action.

Bank of America is a multinational banking conglomerate that executes the majority of its banking operations via its wholly owned subsidiary, Bank of America, N.A. (“BANA”). Owing to the magnitude and complexity of its business, the institution is required to preserve rigorous internal controls to detect, analyze, and report suspicious transactions, as well as ensure strict compliance with Bank Secrecy Act (“BSA”) mandates, anti-money laundering (“AML”) regulations, and applicable economic sanctions regimes. On December 23, 2024, the Office of the Comptroller of the Currency (“OCC”), a division of the U.S. Department of the Treasury, entered a cease-and-desist order against BANA (the “2024 Consent Order”).

A securities class action suit alleges that during the Class Period, defendants issued deceptive statements and omitted critical operational and regulatory facts. Specifically, the complaint claims that systemic flaws in BANA's BSA/AML framework prevented it from adequately monitoring trillions of dollars in transactions, leading to omitted, delayed, or flawed suspicious activity reports involving billions of dollars. The filings further contend that internal assessments had highlighted these BSA/AML vulnerabilities for years, yet BANA failed to properly remediate them following the 2024 Consent Order. Additionally, the lawsuit asserts that BANA maintained weaknesses in its sanctions compliance protocols, processing transfers that constituted apparent violations across several sanctions regimes, and that correcting these comprehensive failings would demand extensive compliance expenditures while exposing the bank to massive monetary fines.

These underlying regulatory failures culminated in major regulatory penalties and stock price declines. On October 13, 2026, the U.S. Department of the Treasury announced joint enforcement penalties against BANA totaling over $1.21 billion. The Financial Crimes Enforcement Network (“FinCEN”) imposed a $1.2 billion fine, incorporating a $750 million credit for a penalty levied by the OCC, while the Office of Foreign Assets Control separately disclosed an $11.6 million resolution. FinCEN noted that BANA conceded to willfully violating the BSA after failing or delaying to identify and disclose more than $5 billion in suspicious transactions. The following day, October 14, 2026, Bank of America released its third-quarter 2026 financial metrics, revealing that the regulatory penalty knocked $0.17 off diluted earnings per share. In response to these disclosures, Bank of America's stock price dropped almost 5%.

WHY PORTNOY LAW FIRM

The Portnoy Law Firm represents investors in complex securities class action litigation and shareholder rights matters across the nation. Founded by Lesley Portnoy, the firm's attorneys have recovered billions of dollars for aggrieved institutional and retail investors. The firm leverages extensive legal expertise and sophisticated financial forensic capabilities to hold public corporations accountable for corporate wrongdoing and misrepresentation.

Lead Plaintiff Deadline: Investors who suffered losses on Bank of America stock during the Class Period have until December 15, 2026 to seek appointment as lead plaintiff.

Frequently Asked Questions About the Bank of America Lawsuit

Q: What is the Bank of America lead plaintiff deadline?
A: The deadline to apply for lead plaintiff appointment is December 15, 2026. This deadline applies strictly to investors seeking to serve as lead plaintiff representing the class. Class members who do not apply may still participate in any eventual financial recovery as absent class members without taking any action at this time.

Q: How much did Bank of America stock drop and on what dates?
A: Following the after-hours disclosure of more than $1.21 billion in coordinated regulatory enforcement actions on October 13, 2026, and the subsequent release of its third-quarter financial results on the morning of October 14, 2026, Bank of America common stock plummeted to an intraday low of $49.26 on October 14, 2026, before ultimately closing at $51.39. This represented a single-day decline of $2.57 per share, or 4.8%, down from the previous day's closing price of $53.96.

Q: What specific misstatements does the Bank of America lawsuit allege?
A: The lawsuit alleges that Defendants made materially false and misleading statements by portraying the compliance deficiencies underlying the December 2024 OCC Consent Order as narrow issues "relating to certain aspects" of the bank's Bank Secrecy Act, anti-money laundering, and economic sanctions compliance programs. Specifically, Defendants falsely assured investors that the company had "already completed significant steps to satisfy requirements of the Consent Order" and asserted that these compliance issues would not have a material adverse financial impact on the corporation. The complaint alleges these statements were misleading because the compliance failures were actually systemic, affected multiple core functions across business lines, left trillions of dollars in transactions improperly monitored, and resulted in billions of dollars in missed or delayed suspicious activity reports that exposed the bank to massive penalties and remediation costs.

Q: What do Bank of America investors need to do right now?
A: Investors who purchased BAC common stock during the Class Period (August 01, 2025 through October 13, 2026) should gather their trade confirmation slips or brokerage transaction logs showing purchase dates, number of shares, and prices paid. You may submit your trade details to Portnoy Law Firm here for a free, no-obligation evaluation of your potential loss recovery. No immediate legal action is required to remain an eligible absent class member.

Q: Does it cost anything to participate in this case as a lead plaintiff?

A: A lead plaintiff does not pay any fees or expenses out of pocket. Our firm works on a contingency basis, and will collect any fees or expenses directly from a future recovery.

Q: What is a lead plaintiff and why does it matter?

A: A lead plaintiff is a court-appointed class member who acts on behalf of all other class members in directing the litigation. The lead plaintiff is typically the investor or group of investors that makes a motion with the largest financial interest in the relief sought. While serving as lead plaintiff does not increase an investor's individual financial recovery compared to other class members, it gives the investor direct authority to select lead counsel and oversee the prosecution of the lawsuit.

Q: Does the lead plaintiff receive any type of compensation?”

A: Yes, in many cases, Courts award the lead plaintiff an additional amount of money to compensate the lead plaintiff for their participation in the case.

Q: What if I already sold my Bank of America shares -- can I still recover losses?
A: Yes. Eligibility to participate in a securities class action recovery depends on whether you purchased or acquired BAC common stock during the Class Period (August 01, 2025 through October 13, 2026) and suffered an economic loss. Investors who sold their shares prior to or after the public disclosures may still be eligible to recover damages based on the artificial inflation present in the stock at the time of purchase.

Q: How long will the Bank of America lawsuit take to resolve?
A: Securities class action lawsuits typically take between two and four years from initial filing to full resolution. The exact timeline depends on court scheduling, motion practice (such as motions to dismiss), pre-trial discovery, and potential settlement negotiations or trial proceedings.

Q: Can I choose a different law firm to represent me?
A: Yes. Investors have the absolute right to retain any legal counsel of their choice. When multiple class action complaints are filed, the court will consolidate the actions and appoint a lead plaintiff and lead counsel. You may choose to be represented by Portnoy Law Firm, retain separate counsel, or remain an absent class member represented by court-appointed lead counsel.

CONTACT INFORMATION

Portnoy Law Firm
Lesley Portnoy, Esq.
Email: lesley@portnoylaw.com / info@portnoylaw.com
Telephone: (310) 692-8883

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