PSERS Appointed Lead Plaintiff in Bank of America Litigation

6/20/2011 - The Honorable William H. Pauley III has appointed the Pennsylvania Public School Employees’ Retirement System as lead plaintiff and Barrack, Rodos & Bacine as lead counsel in Pennsylvania Public School Employees’ Retirement System v. Bank of America Corp., et al., Consolidated Civil Action No. 1:11-cv-00733-WHP, pending in the United States District Court for the Southern District of New York. Click here for the Court's June 20, 2011 opinion and order.  The case arises out of defendants’ alleged concealment of defects in the recording of mortgages and improprieties in foreclosure processing, as well as Bank of America’s alleged practice of “dollar rolling” that misclassified billions of dollars of debt as sales on quarter-end balance sheets. The consolidated amended complaint is due to be filed on September 23, 2011.

If you have any questions about this case, please contact BR&B partners Mark R. Rosen and Jeffrey A. Barrack by telephone at (215) 963-0600 or by email at mrosen@barrack.com for Mr. Rosen or jbarrack@barrack.com for Mr. Barrack.