Defendant Name:
Banc of America Mortgage Securities, Inc
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Bank of America Corporation
SIC Code:
6021
CUSIP:
06050510
Initial Case Details
Legal Case Name
SEC v. Bank of America, N.A., Banc of America Mortgage Securities, Inc., and Merrill Lynch, Fenner, Pierce & Smith LLC
First Document Date
06-Aug-2013
Initial Filing Format
Civil Proceeding
Case Number
13-cv-00447
Allegation Type
Securities Offering
Federal District Court
North Carolina, Western District of North Carolina
Violations Alleged
•
Section 5(b)(1) Securities Act
Resolutions
First Resolution Date
25-Nov-2014
Related Documents:
Complaint
On August 6, 2013, the SEC filed a complaint regarding this matter. According to the SEC: "The Bank of America Entities misrepresented and omitted certain material facts regarding an RMBS, backed by more than $855 million of residential mortgages known as BOAMS 2008-A, that was offered and sold in 2008."
2013-148
06-Aug-2013
Press Release--Civil Action
SEC Charges Bank of America With Fraud in RMBS Offering
On August 6, 2013, the SEC announced that it "charged Bank of America and two subsidiaries with defrauding investors in an offering of residential mortgage-backed securities (RMBS) by failing to disclose key risks and misrepresenting facts about the underlying mortgages."
SEC Charges Bank of America Entities with Material Misrepresentations and Omissions in Connection with an RMBS Offering
On August 7, 2013 the SEC issued a litigation release announcing that it "filed a civil injunctive action against Bank of America, N.A. ("BANA"), Banc of America Mortgage Securities, Inc. ("BOAMS"), and Merrill Lynch, Pierce, Fenner & Smith, Inc. f/k/a Banc of America Securities LLC ("BAS") (collectively the "Bank of America Entities"). The Commission alleges that the Bank of America Entities made material misrepresentations and omissions in connection with the sale of residential mortgage-backed securities known as BOAMS 2008A."
Final Judgment as to Banc of America Mortgage Securities, Inc.
On November 25, 2014, Federal District Judge Max O. Coburn Jr. entered final judgment against Bank of America Mortgage Securities, Inc. pursuant to the consent of Bank of America Mortgage Securities, Inc.
court_doc59_13-cv-00447
03-Jul-2018
Court Docket Document
Order Approving Plan Of Distribution For Bank Of America Mortgage Obligations Distribution Fund
The Court stated: "The Plan is approved and the Distribution shall be distributed in accordance
with the Plan"
court_doc69_13-cv-00447
02-Jul-2020
Court Docket Document
Order
The Court stated: "the Distribution Agent shall disburse the Net Available Distribution Fund in the amount of $119,758,536.86 to the six Eligible Claimants in accordance with the terms of the Distribution Plan and the motions"
Other Defendants in Action:
