Losses that qualify are economic losses on Bank of America common stock or securities bought from August 1, 2025 through October 13, 2026, inclusive. You must have purchased in that window and still show a financial loss tied to the purchase. A securities fraud class action claims investors paid too much because public statements hid key risks.
This case is New England Teamsters Pension Fund v. Bank of America Corp. et al., filed October 16, 2026 in federal court in New York.
Official resources:
- Check eligibility on Senate’s official study page — Use this page to check the study’s participation requirements.
- Read the official guidance from Senate — Use this primary source to verify the official guidance.
Table of Contents
- Which purchases count?
- What loss theory connects the disclosures to your claim?
- Do you need a large loss to qualify?
- What should you do before the deadline?
Which purchases count?
Only purchases or acquisitions during the defined class period can support a claim. According to Kaplan Fox & Kilsheimer LLP, the suit seeks to cover investors who bought Bank of America common stock or securities from August 1, 2025 through October 13, 2026, inclusive, as described in the class-period announcement. That window sets a hard boundary.
Shares held only before August 1, 2025 do not count, even if you later lost value. Shares first bought after October 13, 2026 also fall outside the proposed class. Both common stock and other covered securities are included. The key test is acquisition date, not how long you held afterward.
What loss theory connects the disclosures to your claim?
The complaint alleges Bank of America made false and misleading statements while failing to disclose longstanding Bank Secrecy Act, anti-money-laundering and sanctions-compliance deficiencies. Senate investigators summarized orders citing willful violations and failure to report over $5 billion in suspicious activity, including correspondent-banking and sanctions-screening failures. Regulators acted together on October 13, 2026. Treasury's FinCEN, the OCC and OFAC imposed coordinated enforcement actions totaling more than $1.21 billion against Bank of America, N.A.
for willful BSA violations. The suit treats the next trading day as a corrective disclosure. According to the Law Offices of Howard G. Smith, BAC shares fell $2.57, or 4.76%, to close at $51.39 on October 14, 2026, as detailed in the share-drop analysis. That drop supports claims that earlier prices were inflated.
Do you need a large loss to qualify?
Any real economic loss during the period can qualify for class membership. There is no announced minimum dollar loss for staying in the class if it is certified or settled. Size matters more for seeking lead-plaintiff status.
Under the Private Securities Litigation Reform Act, the court generally presumes the applicant with the largest financial interest will lead the case. That choice does not decide who gets paid. It decides who directs the litigation for other class members. According to Glancy Prongay Wolke & Rotter LLP, lead-plaintiff motions are due December 15, 2026, as explained in the deadline alert.
What should you do before the deadline?
Confirm your trade dates and your net loss first. Brokers' confirmations, monthly statements and tax lots show when you bought, what you paid, when you sold and what you received.
No payment occurs unless the class is certified or the case settles. Preserve your records now and contact qualified securities counsel before December 15, 2026 to protect a lead-plaintiff or claim option.
- Pull confirmations for every BAC purchase and sale from July 2025 through October 2026.
- Calculate whether period purchases left you with an out-of-pocket loss after sales.
- Keep records of shares still held that were bought inside the period.