TD Deadline: TD Investors with Losses in Excess of $100K Have Opportunity to Lead The Toronto-Dominion Bank Securities Fraud Lawsuit

PRNewswire 18-Dec-2024 7:35 PM

NEW YORK, Dec. 18, 2024 /PRNewswire/ -- 

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of The Toronto-Dominion Bank (NYSE:TD) between March 7, 2022 and October 9, 2024, both dates inclusive (the "Class Period"), of the important December 23, 2024 lead plaintiff deadline.

So what: If you purchased TD securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the TD class action, go to https://rosenlegal.com/submit-form/?case_id=30006 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 23, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the complaint, statements made during the Class Period were materially false and/or misleading because, from January 2014 to October 2023, "pervasive" and "systemic deficiencies" plagued TD's anti-money laundering ("AML") controls. Despite these "known" and "glaring deficiencies," TD "chose profits over compliance" and "failed to appropriately fund and staff its AML program, opting to postpone and cancel necessary AML projects" to keep its costs down as "senior executives at TD Bank enforced a budget mandate, referred to internally as a 'flat cost paradigm,' requiring that TD Bank's budget not increase year-over-year." As a result, from January 2018 to April 2024, TD failed to adequately monitor the vast majority of its total transactions which allowed criminals to launder hundreds of millions of dollars using the Company's banking products and services. Given this, TD was ultimately forced to pay more than $3 billion in fines and penalties to regulators and the OCC imposed an asset cap on the Company's U.S. business, stifling its growth. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the TD class action, go https://rosenlegal.com/submit-form/?case_id=30006 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com

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