Bank of America Corporation Securities Litigation
United States District Court for the Southern District of New York
No. 11-CV-00733-WHP
United States District Court for the Southern District of New York
No. 11-CV-00733-WHP
**UPDATE: A supplemental distribution of the Net Settlement Fund took place on January 26, 2024.**
THE CLAIM FILING DEADLINE WAS NOVEMBER 14, 2016. ALL LATE CLAIMS WILL BE SUBJECT TO COURT APPROVAL.
A hearing was held on November 29, 2016, at 2:00 p.m., before United States District Judge William H. Pauley III, at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, Courtroom 20B, New York, NY 10007-1312 to consider whether the Settlement is fair, reasonable and adequate. The Court also considered the Plan of Allocation for the proceeds of the Settlement, applications for attorneys’ fees and reimbursement of expenses, and any written objections filed in accordance with the instructions set out in the Notice. You may view relevant court documents in the Documents section of this website.
The Settlement resolves claims in the action that BoA’s investors were misled about the Company’s exposure to billions of dollars in repurchase claims stemming from mortgages securitized and sold into the marketplace as residential mortgage-backed securities , and about risks arising from the Company’s reliance on an allegedly inadequate mortgage processing and tracking system known as “MERS”; provide a cash payment to Class members who timely submitted valid claims and are otherwise entitled to such a payment; and release the Defendants from liability.
To be eligible to receive a payment under the Settlement, you must have submitted a valid proof of claim establishing your membership in the Class along with all required documentation on or before the claim filing deadline of November 14, 2016.
NOTE: All Capitalized terms are defined in the Settlement Agreement.
