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Bank of America Corporation Message Board

  • howdelsawcroz howdelsawcroz Sep 27, 2010 9:02 AM Flag

    SEC v. BAC Fair Fund Payouts to BAC Shareholders


    For those of us who were BAC shareholders on 16 Jan 2009, we are qualified to participate in the SEC v. BAC Fair Fund payout.

    I received my first check from BAC shares that I held in one of my 401k plans and I am awaiting checks from two other 401k plans.

    Also, I have received, completed, and sent in a "Proof of Claim" form for the certificates that I personally owned. If you personally owned BAC, outside of a 401k account, you must complete and return a "Proof of Claim" form to be eligible to share in the payout.

    If you are not familiar with the SEC v. BAC Fair Fund court case please view this link:

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    • Howdel;

      Thanks for your post.

      For the shares that I owned outside of my 401K, during the time frame covered by this settlement, I've already filed a "Proof of Claim". In fact, I got the form off the SEC website, filled it out, attached my proof, and sent it in BEFORE I received the mailing from the settlement administrators.

      Ref the shares that I USED TO own in my 401K, during the time frame covered by this settlement, I received something in the mail - - I think from Fidelity- - that basically said that they would be handling the claim ref my 401K holdings, and that I didn't have to take any action.

      Is this the same experience that you had? Did you actively specify that you wanted the settlement amounts to be paid to you in a check, or is that just the way they are handling it.

      Thus far, I don't believe that I have received any settlement proceeds to date.


      • 2 Replies to questioner5002
      • I received a partial settlement check in September 2011 for the shares I owned outside of the 401K plan but haven't seen anything for the shares held in the 401K plan. I've tried calling the plan administrator but just get the CS folks who don't have enough information to answer any questions. Anyone else seen anything deposited to their 401K from September on?

      • I thought you had left the forum, Stan. My bad, I guess.

        You still haven't said what criminal act happened here regarding that bogus house listing. Have you accepted the fact that any criminal act would have been inflicted by or on the real estate agent?

        No, we haven't forgotten your trash-mouthed rants and personal attacks on uninvolved posters when you found out someone had listed your house for sale without your knowledge.

        Are you ready to be a man and apologize to the forum for your baseless accusation that someone here listed your house for sale?

        You agreed that you would post an apology to the forum for accusing any and all posters of putting your house on the market without your knowledge and that you would post a sincere and unambiguous thank you to the posters who alerted you that someone had put your house on the market without your knowledge.

        Was it that neighbor you've feuded with for years or was it one of your American Legion ex-buddies who got fed up with your tantrums when you didn't get your way?

        Are you ready to man up, Stan? Keeping your word is the least you can do.

    • Warning this is not legit!!!!
      see the link below to S.E.C.'s web site. there are 2 cases against BAC and you can get all the info you need there.

    • It is not possible for you to have already received a check in this action as the proof of claim deadline has not passed and no one will receive anything until sometime after that happens. The deadline is November 12. Documentation received with the proof of claim states "Processing of the Claim Forms will require significant time. The Distribution Agent estimates that distributions from the Distribution Fund will be made by the end of 2011, although that estimate is subject to change, depending on various factors." So whatever check you received was not for this action.

    • I went to the site and get a "Run Time Error". How typical. There is no settlement and this entire thing is just a scam to make you think the government can do something to help you.

    • are a liar. 401K plan positions cannot receive funds. Also, these things take a year or more to fully work through. This smells of fraud.

    • how much did you get per share.

    • how much per share did you get-I'm not sure if I meet the minimum I have a tiny position in BAC

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