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Scott & Scott LLC Commences Class Action Lawsuits Against BANKAMERICA CORP. and Healthsouth Corp.

Strategic Insights

— 1 min read

Law firm Scott & Scott LLC has announced the commencement of two class action lawsuits against BANKAMERICA CORP. and Healthsouth Corp. The lawsuits allege misrepresentations and insider trading, with the BANKAMERICA action focusing on international loan losses and loss exposure to an investment firm. The Healthsouth action claims violations of federal securities laws for various misrepresentations. Both lawsuits involve shareholders who purchased the companies' stock during specific periods. Scott & Scott LLC, a Connecticut-based law firm, is representing the plaintiffs and has a nationwide practice with offices in Connecticut and Pennsylvania.

Key Takeaways:

  • Scott & Scott LLC has commenced two class action lawsuits against BANKAMERICA CORP. (NYSE:BAC) and Healthsouth Corp. (NYSE:HRC) on behalf of shareholders who purchased the companies' stock during specific periods.
  • The BANKAMERICA lawsuit focuses on alleged misrepresentations regarding international loan losses and loss exposure to an investment firm, affecting shareholders who purchased the company's stock between August 4, 1998, and October 13, 1998, including those who acquired the company's stock through the October 1, 1998, merger between BankAmerica and Nationsbank.
  • The Healthsouth action alleges violations of the federal securities laws for various misrepresentations and insider trading, affecting all purchasers of Healthsouth stock between August 12, 1997, and September 30, 1998.
  • Scott & Scott LLC is a Connecticut-based law firm with a nationwide practice and offices in Connecticut and Pennsylvania, specializing in litigation and transactional work, including securities and antitrust law.
  • The firm emphasizes its dedication to client satisfaction and communication.

Statistics:

  • The BANKAMERICA lawsuit involves shareholders who purchased the company's stock between August 4, 1998, and October 13, 1998, a period of approximately two months.
  • Healthsouth stock was purchased by thousands of investors between August 12, 1997, and September 30, 1998, a period of approximately 14 months.
  • Scott & Scott LLC is representing multiple clients in the class action lawsuits against BANKAMERICA CORP. and Healthsouth Corp.

Sources:

  • BUSINESS WIRE, Oct. 20, 1998
  • Company press releases, not specified

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