Faruqi & Faruqi Reminds TD Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of December 21, 2024 - TD

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against The Toronto-Dominion Bank (TD) due to significant losses suffered by investors related to the bank's anti-money laundering (AML) program and its compliance with the Bank Secrecy Act [2][4]. Group 1: Legal Investigation and Claims - The firm is encouraging investors who experienced losses exceeding $100,000 in TD between March 7, 2022, and October 9, 2024, to discuss their legal rights [1][2]. - A federal securities class action has been filed against TD, with a deadline of December 21, 2024, for investors to seek the role of lead plaintiff [2][7]. Group 2: Allegations Against TD - The complaint alleges that TD provided misleading information regarding the issues surrounding its AML program, including the ability to resolve these issues and the potential financial impact of compliance measures [4][5]. - TD's statements were characterized as overwhelmingly positive while concealing material adverse facts about the AML program's failures, leading to artificially inflated stock prices [5][6]. Group 3: Financial Impact and Stock Performance - On October 10, 2024, TD disclosed a punitive payment of $3.09 billion and an asset cap of $434 billion for its U.S. subsidiaries, which significantly affected investor sentiment [6]. - Following the announcement, TD's stock price dropped from $63.51 per share on October 9, 2024, to $57.01 per share by October 11, 2024, marking a decline of over 10.23% in just two days [6].