Labaton Keller Sucharow filed a securities class action against Bank of America Corp. and certain executives for lead plaintiff New England Teamsters Pension Fund. This pension investor guide explains who the proposed case covers, what it alleges, and the December 15, 2026 lead-plaintiff deadline.
A securities class action lets investors with similar stock-loss claims pursue them together in one case. Business Wire reported on Oct. 16, 2026 that the firm filed this case in the Southern District of New York the Business Wire filing report.
Official resources:
- Read the official guidance from Treasury — Use this primary source to verify the official guidance.
- Read the official guidance from Prnewswire — Use this primary source to verify the official guidance.
Table of Contents
- What case was filed?
- Are your purchases covered?
- What does the complaint allege?
- What happened to the stock price?
- What should pension investors do by December 15?
What case was filed?
The case is captioned New England Teamsters Pension Fund v. Bank of America Corp., No. 26-cv-09137.
It asserts claims under Exchange Act Sections 10(b) and 20(a) plus Rule 10b-5. A lead plaintiff directs the case for the proposed class. Pension funds often seek that role because their losses can be large and their interests match other investors.
Are your purchases covered?
The proposed class covers all persons and entities that purchased Bank of America common stock from Aug. 1, 2025 through Oct. 13, 2026 inclusive, according to Glancy Prongay and Wolter the Glancy Prongay class-period notice. That means timing and security type both matter.
Shares bought before Aug. 1, 2025 or after Oct. 13, 2026 fall outside the proposed period. Only common stock purchases are included in the described class.
What does the complaint allege?
The complaint alleges defendants made false or misleading statements and concealed adverse facts, as described by Hagens Berman. The focus is Bank of America compliance controls and regulatory risk exposure. On Oct.
13, 2026, Treasury, FinCEN and OCC announced enforcement actions requiring Bank of America to pay over $1.21 billion, according to the U.S. Department of the Treasury the Treasury enforcement announcement. The package included a $1.2 billion FinCEN penalty for anti-money-laundering and sanctions violations.
What happened to the stock price?
The Law Offices of Howard G. Smith reported that Bank of America stock fell $2.57, or 4.76%, to close at $51.39 on Oct. 14, 2026.
That drop followed the Treasury announcement. The complaint links that decline to alleged injury for class-period investors. Price movement alone does not prove liability or guarantee recovery.
What should pension investors do by December 15?
Affected investors who bought during the class period and suffered losses have until Dec. 15, 2026 to ask the court for lead-plaintiff appointment, according to Glancy Prongay via GlobeNewswire the GlobeNewswire deadline alert. Investors who do nothing may remain proposed class members if a class is later certified.
Investors who want to lead must act before the deadline. The filing is only an allegation with no proven liability, certified class, or guaranteed recovery, as noted by Hagens Berman. Preserve trade records and get legal advice before the deadline passes.
- Pull brokerage statements and trade confirmations for Bank of America common stock
- List purchase dates, share counts, prices, and any sales during the period
- Calculate losses for shares held through the Oct. 14 price decline
- Consult securities counsel about lead-plaintiff requirements and risks