Pomerantz Law Firm Announces the Filing of a Class Action Against The Toronto-Dominion Bank - TD

Pomlaw 11-Nov-2024 2:12 PM

Pomerantz LLP announces that a class action lawsuit has been filed against The Toronto-Dominion Bank ("TD Bank" or the "Company") (NYSE:TD).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether TD Bank and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until December 23, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired TD Bank securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]

On October 10, 2024, TD Bank disclosed that it had pleaded guilty and agreed to pay over $3 billion in penalties to resolve investigations by U.S. authorities into violations of the Bank Secrecy Act (BSA) and money laundering.  The resolution of the investigations also included an asset cap preventing TD Bank's U.S. subsidiaries from collectively exceeding $434 billion in assets and subjects TD Bank to more stringent approval processes for its products, services, and market rollouts.  In a corresponding press release, the U.S. Department of Justice described TD Bank as "the largest bank in U.S. history to plead guilty to Bank Secrecy Act program failures, and the first US bank in history to plead guilty to conspiracy to commit money laundering." 

On this news, TD Bank's stock price fell $4.07 per share, or 6.41%, to close at $59.44 per share on October 10, 2024.