The biggest U.S. lender, Bank of America Corp., is facing a securities fraud lawsuit filed by several investors, including BlackRock Inc. Countrywide, a subsidiary of BAC, allegedly gave false information to its shareholders in regards to its finances and lending practices.
Initially, investors and BAC were to settle out of court, but the two sides were unsuccessful in reaching a resolution. Investors are now looking to recover and resolve losses and damages caused by BAC’s alleged fraud. Investors will no doubt look to maximize their returns in the upcoming trial.
Financial fraud can devastate individuals and companies alike. First and foremost, distinguishing whether information is falsified is difficult and time consuming. It’s important though to scan these documents thoroughly and make sure of the legitimacy. If you do find that you’ve been misled, make sure to contact a personal injury attorney at once. They can help steer you in the right direction to take legal action and recover from damages and losses.