Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired The Toronto-Dominion Bank (NYSE: TD) securities.
If you suffered a loss on your TD investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 29 2024 - Oct 09 2024
CASE DETAILS: 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.
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