#United States #New York #Toronto-Dominion Bank #Securities Fraud #TD Lawsuit

Toronto-Dominion Bank Faces Class Action Lawsuit

Investors of The Toronto-Dominion Bank, commonly referred to as TD, are being alerted to a class action securities lawsuit filed by Levi & Korsinsky, LLP. This action targets alleged securities fraud which occurred between February 29, 2024, and October 9, 2024. As the period for affected investors to respond quickly approaches, understanding the implications of this lawsuit is crucial.

What the Lawsuit Entails

The purpose of this class action is to represent investors who suffered losses during the designated timeframe, particularly those impacted by revelations concerning the bank's major operational failures.

On October 10, 2024, TD announced the outcomes of investigations by U.S. authorities. The results were staggering: a punitive payment of roughly $3.09 billion, alongside an asset cap restricting TD's U.S. subsidiaries from surpassing a combined $434 billion. Additionally, this announcement established more stringent approval protocols for future product, service, and market expansions. These measures represent a significant blow to the bank’s operations in the U.S.

A prominent aspect of this case reflects TD's failures in addressing their Bank Secrecy Act compliance, marking them as the largest bank in U.S. history to plead guilty to such oversights. Analysts had not anticipated this level of accountability, highlighting a notable lapse in oversight from what was once viewed as a stable banking institution. The revelations prompted an immediate and severe reaction from the market, leading to a sharp decline in TD's stock price.

On October 9, 2024, the stock closed at $63.51 per share, but by October 11, it plummeted to $57.01, reflecting a precipitous drop of over 10.23% within just two days.

Important Dates and Next Steps

Investors who find themselves adversely affected by the events leading to this lawsuit have until December 21, 2024, to submit requests for the court to appoint them as lead plaintiffs in this matter. It is essential to note that participation in the class action and potential recovery does not necessitate an individual to serve as a lead plaintiff.

For class members, compensation opportunities exist without incurring out-of-pocket costs or fees. This means that even if you do not lead the case, you can still share in any recovery achieved, emphasizing a collective effort towards justice.

Why Choose Levi & Korsinsky

Levi & Korsinsky, with a formidable reputation built over two decades, has successfully secured settlements amounting to hundreds of millions for distressed shareholders. The firm, renowned for its expertise in complex securities litigation, boasts a dedicated team of over 70 professionals committed to representing investor interests.

Furthermore, they have consistently ranked among the top 50 securities litigation firms in the United States, as recognized by ISS Securities Class Action Services. This indicates a solid foundation and proven track record in navigating high-stakes legal challenges.

Contact Information

For those interested in learning more about the class action or who believe they might be affected, direct inquiries can be made to Joseph E. Levi or Ed Korsinsky at Levi & Korsinsky, LLP.

• - Address: 33 Whitehall Street, 17th Floor, New York, NY 10004
• - Email: email protected]
• - Phone: (212) 363-7500
• - Fax: (212) 363-7171
• - Website: [www.zlk.com

It's imperative for TD investors to remain vigilant and proactive in understanding the unfolding situation, addressing potential financial impacts effectively.