#United States #New York #Class Action #Gross Law Firm #Toronto-Dominion Bank

TD Bank Shareholders Notice: Class Action Lawsuit

The Gross Law Firm has recently informed shareholders of The Toronto-Dominion Bank (NYSE: TD) about a pending class action lawsuit. This notice aims to alert investors who purchased shares during a specific period to the ongoing legal proceedings and the opportunity to join the case. The deadline for shareholders to register for lead plaintiff status is December 21, 2024, and the law firm encourages all affected parties to take immediate action.

Background of the Lawsuit

The class action centers around a significant fallout that occurred when TD Bank revealed substantial failures related to its anti-money laundering protocols. On October 10, 2024, the bank disclosed that it had reached resolutions from investigations conducted in the United States, which resulted in a hefty penalty of $3.09 billion. In addition to this fine, TD is now subject to an asset cap of $434 billion, limiting the total assets of its U.S. subsidiaries.

These revelations shocked analysts and investors alike, as TD became the largest bank in U.S. history to plead guilty to violations associated with the Bank Secrecy Act, marking a severe breach of trust. Following the announcement, TD’s stock price plummeted sharply. On the closing date of October 9, 2024, shares were valued at $63.51, only to decline to $59.44 on October 10 and further drop to $57.01 the next day, reflecting an overall decrease of more than 10.23% in a mere 48 hours.

Who Should Register?

Investors who acquired TD shares between March 7, 2022, and October 9, 2024, are encouraged to consider registering for this class action. The Gross Law Firm underscores that registering for lead plaintiff status is not mandatory to participate in the recovery of losses sustained from this incident. Shareholders are offered an easy registration process through the firm’s dedicated class action webpage. Once participants sign up, they will receive ongoing updates about the case through portfolio monitoring services, ensuring they stay informed throughout the legal proceedings.

Importance of Timely Action

The deadline to seek lead plaintiff status is set firmly for December 21, 2024, which creates an urgent scenario for potential participants. The Gross Law Firm emphasizes that immediate registration is essential for investors looking to protect their rights. Notably, there are no costs or obligations tied to participating in this lawsuit, which alleviates concerns for shareholders contemplating legal action.

The Gross Law Firm’s Mission

As a nationally recognized class action law firm, The Gross Law Firm is committed to defending the rights of investors across the nation. Their mission is to ensure accountability among corporations and uphold ethical business practices. By pursuing claims against companies that engage in deceitful or fraudulent activities, the firm strives to secure restitution for those who suffer losses due to misleading actions or statements from these entities. Investors are encouraged to consider this opportunity for recovery and understand their rights amidst this significant legal challenge against TD Bank.

How to Contact

Shareholders who wish to participate in this lawsuit should reach out to The Gross Law Firm through their official channels. The law firm is located at 15 West 38th Street, 12th Floor, New York, NY, 10018. Interested individuals can also contact them by phone at (646) 453-8903 or via email at [email protected].

Stay informed and take action about your rights as a shareholder during this critical period. The upcoming class action lawsuit against TD Bank could pave the way for significant recoveries for those affected.