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The Toronto-Dominion Bank

Securities Class Action

  • Date:
  • 12/23/2024
  • Company Name:
  • Toronto-Dominion Bank
  • Stock Symbol:
  • TD
  • Class Period:
  • FROM 2/29/2024 TO 10/9/2024
  • Status:
  • Filed
  • Filing Date:
  • 10/23/2024
  • Court:
  • U.S. District Court: Southern District of New York

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Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against The Toronto-Dominion Bank (“TD” or the “Company”) (NYSE: TD) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired TD securities between February 29, 2024 to October 9, 2024, both dates inclusive (the “Class Period”). Investors have until December 23, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

According to the complaint, on October 10, 2024, TD unveiled the resolutions reached from United States investigations, which included, in addition to the punitive payment of $3.09 billion, both an asset cap, preventing TD's U.S. subsidiaries from exceeding a collective $434 billion, a reflection of the Company's assets as of September 30, 2024, and further subjects TD to more stringent approval processes for its product, service, and market rollouts. Further, the Department of Justice, in their own corresponding release, highlighted the significance of TD's failures 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."

The unveiling of the scope of the Company's anti-money laundering failures surprised investors and analysts alike as they reacted immediately to the revelations. The price of TD's common stock declined dramatically. From a closing market price of $63.51 per share on October 9, 2024, TD's stock price fell to $59.44 per share on October 10, 2024, and further to $57.01 on October 11, 2024, a decline of more than 10.23% in the span of just two days.
 
If you purchased or otherwise acquired TD shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out the form below.  There is no cost or obligation to you.
The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in Toronto-Dominion Bank. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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