Kaplan Fox Files Bank of America Class Action After $1.2 Billion Penalty and Stock Drop

Kaplan Fox & Kilsheimer LLP announced a class action lawsuit against Bank of America Corporation on behalf of investors who bought or otherwise acquired Bank of America common stock between August 1, 2025 and October 13, 2026. The firm set a December 15, 2026 deadline for class members to move the court for lead plaintiff status, Aktien reported on October 28, 2026.

Kaplan Fox's Bank of America Class Action

Kaplan Fox & Kilsheimer LLP is a New York-based plaintiffs' litigation firm founded in 1975 that represents institutional and individual investors in securities class actions, antitrust, consumer protection, data privacy and private client matters. The complaint alleges that throughout the class period, defendants made false or misleading statements or failed to disclose that systemic weaknesses in Bank of America, N.A.'s Bank Secrecy Act and anti-money laundering program caused it to fail to properly monitor trillions of dollars in transactions. The complaint also alleges the program missed, delayed or filed inaccurate or incomplete suspicious activity reports involving billions of dollars in suspicious activity.

On October 13, 2026, the U.S. Department of the Treasury announced coordinated enforcement actions against Bank of America's wholly owned subsidiary, Bank of America, N.A., resulting in more than $1.2 billion in penalties and settlements for violations of the Bank Secrecy Act, anti-money laundering rules and applicable economic sanctions laws. In its order, the Financial Crimes Enforcement Network states that Bank of America, N.A. admits it willfully violated the Bank Secrecy Act and missed or delayed detecting and reporting more than $5 billion in suspicious activity.

Bank of America reported third quarter 2026 results on October 14, 2026 showing that the $1.2 billion regulatory settlement charge reduced diluted earnings per share by $0.17. The complaint alleges the stock fell to an intraday low of $49.26 that day before closing at $51.39, down 4.8% from the previous day's closing price of $53.96.

Kaplan Fox's Prior Bank of America Recovery

According to akta.pro company records, Kaplan Fox lists a $2.5 billion single largest private action recovery in the Bank of America Securities Litigation. The same records put the total settlement in Bank of America Corp. Securities Litigation, No. 09 MDL 2058 (DC) (S.D.N.Y.), at $2.425 billion, described as the largest securities class action settlement resolving a Section 14(a) claim. The records also list more than $10 billion in total recoveries across all cases, including securities and antitrust matters.

Kaplan Fox's Recent Securities Filings

Kaplan Fox announced on August 28, 2026 that a securities class action had been filed against GoDaddy Inc. on behalf of investors who bought or acquired the company's common stock between September 3, 2025 and February 24, 2026, Newsfile reported. On September 2, 2026, the firm announced a securities class action against Hims & Hers Health, Inc. for investors who bought securities between August 4, 2025 and July 29, 2026, FinancialContent Business Page reported. The future of trading reported on October 28, 2026 that Kaplan Fox filed a securities class action against AppLovin over alleged false statements about its generative AI video feature and AI model improvements, with investors given until November 16, 2026 to seek lead plaintiff status.

Bank of America's December Deadline

Class members in the Bank of America case may move the court no later than December 15, 2026 for an opportunity to be lead plaintiff for the purported class. Kaplan Fox states that investors need not seek to become a lead plaintiff in order to share in any possible recovery.