Zwerling, Schachter & Zwerling, LLP Files Class Action Complaint on Behalf of Investors In Bank of America Corporation's Options - BAC

NEW YORK, March 3 /PRNewswire/ -- Zwerling, Schachter & Zwerling, LLP ("Zwerling Schachter") announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of all persons and entities that purchased or otherwise acquired Bank of America Corporation ("BAC") call options and/or sold BAC put options between September 15, 2008 and January 22, 2009, inclusive (the "Class Period") to recover damages caused by defendants' violations of the federal securities laws.  

The complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.  This action arises out of the dissemination of materially false and misleading statements and omissions by defendants concerning the financial conditions of BAC and Merrill Lynch & Co., Inc. ("Merrill") and regarding BAC's acquisition of Merrill (the "Merger").  As a result of defendants' false and misleading statements, BAC options traded at artificially inflated prices during the Class Period.  The complaint alleges that during the Class Period defendants made materially misleading statements to investors concerning, among other things, Merrill's fourth quarter losses, Merrill's and BAC's true financial condition, and that BAC had secretly agreed to allow Merrill to pay its executives billions of dollars in bonuses on an accelerated schedule.  In response to disclosures made concerning the Merrill bonuses, the mounting losses at Merrill, and the deteriorating financial condition of BAC, the price of BAC options fell significantly resulting in damages to BAC options investors.  .

If you invested in BAC options during the Class Period and suffered investment losses, you may apply to serve as lead plaintiff.  The lead plaintiff is responsible for overseeing the prosecution of the action and ensuring that the interests of the class are protected.  Should you desire to be lead plaintiff, you may apply to be appointed through Zwerling Schachter, as counsel.  The lead plaintiff deadline is March 16, 2010.  

If you wish to discuss this securities class action or have any questions concerning your rights and interests with respect to this matter, please contact Justin Tarshis, Esq. at Zwerling Schachter at (800) 721-3900 or by e-mail at [email protected].

Zwerling Schachter concentrates its law practice in prosecuting class actions nationwide on behalf of investors.  The firm currently plays a leading role in numerous major securities and complex commercial litigations pending in federal and state courts and has offices in New York, Garden City, N.Y., and Seattle.  The firm has been recognized by courts throughout the country as highly experienced and skilled in complex litigation, particularly with respect to federal securities class action litigation.

Visit our website at:  www.zsz.com.

SOURCE Zwerling, Schachter & Zwerling, LLP