The law firm Kaplan Fox & Kilsheimer LLP announced the filing of a class action lawsuit against Bank of America on November 2, 2026. The suit is on behalf of investors who purchased the company's common stock between August 1, 2025, and October 13, 2026, and follows significant regulatory penalties against the bank.
The legal action is a direct consequence of the U.S. Department of the Treasury's announcement on October 13, 2026, which imposed over $1.2 billion in penalties on Bank of America for longstanding violations of the Bank Secrecy Act and anti-money laundering laws. Bank of America had previously disclosed that the settlement charge reduced its third-quarter 2026 earnings per share by $0.17.