#USA #New York #Gross Law Firm #Toronto-Dominion Bank #securities violations

Toronto-Dominion Bank Sued for Securities Law Violations

In a significant turn of events, The Toronto-Dominion Bank (NYSE: TD) has come under legal scrutiny as investors have initiated a class action lawsuit against the banking giant. The Gross Law Firm has officially announced that shareholders who acquired shares of TD during a specific class period from February 29, 2024, to October 9, 2024, are encouraged to come forward and participate in this legal action. The deadline to register is approaching fast, set for December 21, 2024.

Background of the Allegations

The allegations surface in light of TD's recent disclosures regarding resolutions from U.S. investigations, indicating failures in its Bank Secrecy Act program. On October 10, 2024, the bank revealed that it had incurred a punitive expenditure of over $3.09 billion. Additionally, it now faces an asset cap that restricts its U.S. subsidiaries from exceeding a collective $434 billion in assets. This cap reflects the bank's asset levels as of September 30, 2024, heralding a new era of stringent regulations and oversight for the institution. Moreover, the Department of Justice characterized the bank's failures as historically significant, noting that TD is now the largest bank in U.S. history to plead guilty to violations regarding money laundering.

The abrupt disclosure of the scale of these failures sent shockwaves through the investment community. Analysts responded swiftly, expressing shock over how such deficiencies managed to remain under the radar until this critical juncture. The immediate impact on TD's common stock was profound, diminishing from a closing price of $63.51 on October 9, 2024, to $59.44 just a day later, culminating in a staggering loss of over 10.23% within only two days of the announcement.

Call to Action for Shareholders

For shareholders who suffered losses during the specified time period, it is crucial to take immediate action. Interested investors can register by visiting the official website provided by The Gross Law Firm. By submitting your details, you will also be enrolled in a portfolio monitoring service that will keep you updated regarding the case’s progression. This service ensures you are well-informed as the case develops, which may lead to potential recovery of losses incurred during this tumultuous period for TD investors.

It is important to note that participating in this class action does not necessitate an appointment as a lead plaintiff, enabling all affected shareholders to amicably participate. The firm assures that there are no associated costs or obligations for those who register.

The Gross Law Firm’s Commitment

As a nationally recognized class action law firm, The Gross Law Firm dedicates itself to safeguarding investors' rights and holds a strong commitment to nurturing responsible business practices among corporations. Their mission encompasses addressing deceitful practices that lead to artificial inflation of stock values. The firm emphasizes the importance of transparency and accountability, especially within the financial sector.

In conclusion, time is of the essence. Affected shareholders are urged to act swiftly and register their information by the impending deadline. Should you have further inquiries or require assistance, The Gross Law Firm stands ready to provide support, ensuring that investors can effectively navigate this challenging landscape.

Contact Information

• - Email: [email protected]
• - Phone: (646) 453-8903
• - Address: 15 West 38th Street, 12th Floor, New York, NY, 10018

Investors must not delay in registering for this paramount legal action, as a successful suit could provide them with the recourse they warrant against misleading practices that have led to substantial financial losses.