NEW ORLEANS–(BUSINESS WIRE)–Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Bank of America Corporation (NYSE: BAC).
On July 11, 2023, the Consumer Financial Protection Bureau announced that an investigation found that the Company had harmed hundreds of thousands of customers across multiple product lines over a period of several years through a series of illegal practices including double charging insufficient fund fees, withholding reward bonuses and opening accounts without customers’ knowledge or permission. As a result, the Company was ordered to pay over $100 million to customers and another $90 million in penalties, as well as a separate $60 million fine ordered by the Office of the Comptroller of the Currency for violating laws regarding overdraft fees.
KSF’s investigation is focusing on whether Bank of America’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Bank of America shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-bac/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner