Bank of America Corporation Securities Litigation

On 30 October 2015, parties in the Bank of America Corporation securities litigation (Pennsylvania Public School Employee’s Retirement System, Individually and On Behalf of All Others Similarly Situated,  v. Bank of America Corporation, et al.) reached an agreement to settle the case for $335 million.  Plaintiffs alleged that Bank of America made misstatements regarding its system for keeping track of mortgages. Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided expert reports about loss causation and the quantification of shareholder damages.

Additional information is available here.