A class action lawsuit has been filed where plaintiffs claim that Bank of America, while acting as a Trustee, Executor, Guardian or other form of corporate fiduciary caused damages to beneficiaries by purchasing shares of the Bank's proprietary mutual funds, Columbia Funds (formerly known as Nations Funds) for fiduciary accounts instead of lower cost, better managed, non-proprietary alternative mutual funds. Plaintiffs claim that the Bank violated the federal securities laws and breached the fiduciary duties it owed to the beneficiaries.
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Reader Comments
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Florida
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Florida
on
Bank of America withheld my money even though it had cleared from Prudential. Meanwhile they bounced all incoming checks and charged me $35.00 per check. It cost me over $700.00 in fees. When I conctacted them their answer was simply they didn't need to tell me where my money was, even though it wasn't in my account or Prudential's account.
