Bank of America Corp
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Financials : Banks | Large Cap Value
Company profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.

Closing Price
$33.01
Day's Change
-0.98 (-2.88%)
Bid
--
Ask
--
B/A Size
--
Day's High
33.63
Day's Low
32.70
Volume
(Average)
Volume:
57,684,295

10-day average volume:
54,207,175
57,684,295

RCL INVESTOR DEADLINE: Bernstein Liebhard Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Royal Caribbean Cruises Ltd.

4:56 pm ET November 17, 2020 (Globe Newswire) Print

Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action that has been filed on behalf of investors that purchased or acquired the securities of Royal Caribbean Cruises Ltd. ("Royal Caribbean" or the "Company") (NYSE: RCL) between February 4, 2020 and March 17, 2020 (the "Class Period"). The lawsuit filed in the United States District Court for the Southern District of Florida alleges violations of the Securities Exchange Act of 1934.

If you purchased Royal Caribbean securities, and/or would like to discuss your legal rights and options please visit Royal Caribbean Shareholder Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.

The complaint alleges that the Defendants throughout the Class Period made false and/or misleading statements and failed to disclose material adverse facts about the Company's decrease in bookings outside China and its inadequate policies and procedures to prevent the spread of COVID-19 on its ships. Specifically, regarding global bookings, Royal Caribbean made statements that: (1) misled investors to believe that any issue related to COVID-19 was relatively insignificant; (2) falsely assured investors that bookings outside China were strong with no signs of a slowdown; and (3) failed to disclose that the Company was experiencing material declines in bookings globally due to customer concerns over COVID-19. Additionally, regarding safety procedures, the Company made statements that: (1) falsely assured investors that it implemented rigorous safety protocols; (2) such protocols were expected to ultimately contain the spread of the virus; and (3) failed to disclose that its ships were following grossly inadequate protocols that would foster the spread of COVID-19 and pose a substantial risk to passengers and crews.

The full impact of the Company's false and misleading statements and/or omissions was revealed, as analysts downgraded the Company's stock and slashed their price targets, reflecting the true value of Royal Caribbean stock. On March 18, 2020, prior to the opening of the stock market, Stifel cut its one-year price target on Royal Caribbean from $161 to $40

On this news, Royal Caribbean's stock price dropped $5.33 per share, or 19.27% to close at $22.33 per share on March 18, 2020.

If you wish to serve as lead plaintiff, you must move the Court no later than December 7, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased Royal Caribbean securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/royalcaribbeancruisesltd-rclshareholder-class-action-lawsuit-fraud-323/apply/ contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. (C) 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information

Matthew E. Guarnero

Bernstein Liebhard LLP

https://www.bernlieb.com

(877) 779-1414

MGuarnero@bernlieb.com

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