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]. Summary by Relevant Sections Allegations - 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 the likelihood of punitive measures that could hinder the bank's growth [2]. Recent Developments - On October 10, 2024, TD announced resolutions from investigations into its AML compliance, which included a punitive payment of 434 billion. This marked TD as the largest bank in U.S. history to plead guilty to such failures [3]. - Following this announcement, TD's stock price dropped from 59.44 on October 10, and further to $57.01 on October 11, representing a decline of over 10% in just two days [3]. Class Action Participation - Shareholders interested in participating in the class action must submit their application by December 23, 2024. A lead plaintiff will represent the class in the litigation [4].
TD SHAREHOLDER NEWS: Shareholder Rights Law Firm Robbins LLP Reminds The Toronto-Dominion Bank Shareholders of the December 23, 2024 Lead Plaintiff Deadline