Bank of America Faces Investor Lawsuit Following $1.2B Penalty

The regulatory scrutiny centers on findings that the bank allegedly ignored trillions of dollars in potentially suspicious transactions. According to an October 13 report by Fox Business, the Treasury Department cited the institution for long-standing compliance deficiencies that allowed these massive sums to move through its systems without adequate investigation.

Rosen Law Firm is now soliciting shareholders to join a prospective class action, arguing that Bank of America issued materially misleading information to the public regarding its business practices. Investors who acquired securities prior to the stock’s decline are being invited to participate under a contingency fee arrangement. The firm, led by Laurence Rosen, cites its history in large-scale litigation as it positions itself to lead the potential recovery of investor losses.