Company Overview - Toronto-Dominion Bank (TD) has been a subject of discussion due to its anti-money laundering (AML) fines and Q4 earnings reported on December 5th, 2024 [1] - TD is considered a solid Canadian bank with reliable returns and growth potential, making it an attractive investment for dividend investors [1] Analyst's Perspective - The analyst previously rated TD as a 'buy' due to its strong fundamentals and growth prospects [1] - The analyst holds a beneficial long position in TD shares through stock ownership, options, or other derivatives [2] Industry Context - Canadian banks like TD and BMO are favored by investors for their stability and consistent performance in the financial markets [1]

TD Bank's AML Remediation and Strategic Review - TD Bank faced a significant penalty of $3 09 billion due to AML shortcomings, leading to a plea agreement with the US Department of Justice [1][3] - The bank is reducing its US retail assets by approximately 10% to comply with the $434 billion limit set by the OCC [5] - TD has strengthened its AML staff and hired in risk and audit areas, aiming to meet regulatory expectations [5][6] - The bank appointed a new head of US financial crimes and risk management and reorganized its AML team in the US [6] - TD plans to integrate external benchmarking to ensure appropriate resource funding and support for AML efforts [6][7] Strategic Review and Capital Allocation - TD suspended its medium-term growth targets and initiated a comprehensive strategic review due to rising expenses [2] - The bank is considering offloading some loan portfolios and repositioning bond holdings to optimize return on equity in the US [8] - TD is reviewing its ownership stake in Charles Schwab, having reduced its stake from 12 3% to 10 1% last year [9][11] - The bank clarified that its deposit agreement with Schwab will continue regardless of its investment decisions [10][11] Industry Context and Legal Issues - Deutsche Bank's broker-dealer subsidiary was fined $4 million by the SEC for failing to file Suspicious Activity Reports promptly [14] - Bank of America received a cease-and-desist order from the OCC to address deficiencies in its BSA/AML and sanctions compliance programs [15] TD's Financial Performance - TD shares lost 2 3% over the past six months, underperforming the industry's 4 8% growth [12] - The bank currently carries a Zacks Rank 4 (Sell) [13]

NEW YORK, Dec. 23, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of The Toronto-Dominion Bank (NYSE: TD).Shareholders who purchased shares of TD during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/the-toronto-dominion-bank-loss-submission-form/?id=117762&from=4CLASS PERIOD: Februar ...

NEW YORK, Dec. 20, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against The Toronto-Dominion Bank ("TD Bank" or the "Company") (NYSE: TD). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.The class action concerns whether TD Bank and certain of its office ...

SAN DIEGO, Dec. 20, 2024 /PRNewswire/ -- The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of The Toronto-Dominion Bank ("TD Bank") (NYSE: TD) securities between March 7, 2022 and October 9, 2024, both dates inclusive (the "Class Period"), have until this upcoming Monday, December 23, 2024 to seek appointment as lead plaintiff of the TD Bank class action lawsuit. Captioned Gonzalez v. The Toronto-Dominion Bank, No. 24-cv-09445 (S.D.N.Y.), the TD Bank class action lawsui ...

Core Viewpoint - The Toronto-Dominion Bank (TD) is facing a class action securities lawsuit due to alleged securities fraud that occurred between February 29, 2024, and October 9, 2024, following significant revelations regarding its anti-money laundering failures and subsequent financial penalties [1][2]. Group 1: Lawsuit Details - The lawsuit aims to recover losses for TD investors affected by the alleged fraud during the specified period [1]. - On October 10, 2024, TD disclosed the outcomes of U.S. investigations, which included a punitive payment of $3.09 billion and an asset cap limiting its U.S. subsidiaries to a collective $434 billion, based on assets as of September 30, 2024 [2]. - The Department of Justice characterized TD's failures as the largest in U.S. banking history related to Bank Secrecy Act violations and the first instance of a U.S. bank pleading guilty to conspiracy to commit money laundering [2]. Group 2: Market Reaction - Following the announcement of the investigations and penalties, TD's stock price dropped significantly, from $63.51 per share on October 9, 2024, to $59.44 on October 10, 2024, and further to $57.01 on October 11, 2024, marking a decline of over 10.23% within two days [2]. Group 3: Next Steps for Investors - Investors who suffered losses during the relevant timeframe have until December 21, 2024, to request appointment as lead plaintiff in the lawsuit [3]. - Participation in the lawsuit does not require serving as a lead plaintiff, and class members may be entitled to compensation without any out-of-pocket costs [3]. Group 4: Legal Representation - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions for shareholders over the past 20 years and consistently ranking among the top securities litigation firms in the U.S. [4].

NEW YORK, Dec. 19, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of The Toronto-Dominion Bank (NYSE: TD).Shareholders who purchased shares of TD during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/the-toronto-dominion-bank-loss-submission-form/?id=117268&from=4CLASS PERIOD: Februar ...

NEW YORK, Dec. 18, 2024 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of The Toronto-Dominion Bank (NYSE: TD) between March 7, 2022 and October 9, 2024, both dates inclusive (the "Class Period"), of the important December 23, 2024 lead plaintiff deadline.So what: If you purchased TD securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.What to d ...

Core Viewpoint - A class action lawsuit has been filed against The Toronto-Dominion Bank (TD) for allegedly misleading investors regarding its compliance with anti-money laundering regulations, particularly the U.S. Bank Secrecy Act [1][2]. Group 1: Allegations and Compliance Issues - The lawsuit claims that TD failed to disclose significant issues with its anti-money laundering (AML) program and the potential consequences of these failures, including punitive measures that could hinder the bank's growth [2]. - The complaint highlights that TD concealed the severity of its AML program failures and did not indicate that an asset cap or other compliance measures would be imposed [2]. Group 2: Financial Impact and Stock Performance - On October 10, 2024, TD announced a resolution to investigations related to its AML compliance, which included a punitive payment of $3.09 billion and an asset cap limiting its U.S. subsidiaries to a collective $434 billion [3]. - Following the announcement, TD's stock price dropped from $63.51 on October 9, 2024, to $59.44 on October 10, 2024, and further to $57.01 on October 11, 2024, marking a decline of over 10% in just two days [3]. Group 3: Class Action Participation - Shareholders interested in participating in the class action must submit their application to serve as lead plaintiff by December 23, 2024 [4]. - It is noted that shareholders do not need to actively participate in the case to be eligible for any recovery [4]. Group 4: Legal Representation - Robbins LLP, the law firm handling the case, operates on a contingency fee basis, meaning shareholders will not incur any fees or expenses unless they recover losses [5]. - The firm has a history of successfully litigating securities class actions and has recovered over $1 billion for shareholders since its inception [5].

SAN FRANCISCO, Dec. 17, 2024 (GLOBE NEWSWIRE) -- On December 11, 2024, a second investor in The Toronto-Dominion Bank (NYSE: TD) filed a class action lawsuit that expanded the Class Period in the related case to begin on March 7, 2022 and end on October 9, 2024. Both lawsuits follow the October 10, 2024 announcement by the U.S. Department of Justice that TD’s U.S. subsidiaries had pleaded guilty to violating the Bank Secrecy Act and conspiracy to commit money laundering. The resolution included a $3.09 bill ...