INVESTOR DEADLINE NEXT WEEK: The Toronto-Dominion Bank Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - TD

Core Viewpoint - The Toronto-Dominion Bank is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, primarily related to its anti-money laundering program and the concealment of significant operational failures [1][4][6]. Group 1: Class Action Lawsuit Details - The class action lawsuit, titled Gonzalez v. The Toronto-Dominion Bank, covers purchasers of TD Bank securities from March 7, 2022, to October 9, 2024, with a deadline for lead plaintiff applications set for December 23, 2024 [1]. - Allegations include making false or misleading statements regarding the effectiveness of TD Bank's anti-money laundering (AML) program and failing to disclose material adverse facts [4]. - The lawsuit cites a report from The Wall Street Journal on May 2, 2024, detailing a U.S. Department of Justice investigation into TD Bank's AML controls, which revealed that the bank was used by crime groups to launder hundreds of millions of dollars [5]. Group 2: Financial Implications - Following the news of the DOJ investigation, TD Bank's stock price dropped nearly 6% [5]. - On October 10, 2024, TD Bank announced a resolution to 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 [6]. - The DOJ characterized TD Bank's failures as significant, marking it as the largest bank in U.S. history to plead guilty to Bank Secrecy Act program failures, leading to a further stock price decline of over 10% [6]. Group 3: Legal Process and Representation - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased TD Bank securities during the class period to seek appointment as lead plaintiff, representing the interests of the class [7]. - The lead plaintiff has the authority to select a law firm for litigation, and participation as lead plaintiff does not affect the ability to share in any potential recovery [7]. Group 4: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a prominent law firm specializing in securities fraud cases, having secured over $6.6 billion for investors in class action cases [8][9]. - The firm has been recognized for its significant recoveries, including the largest securities class action recovery in history at $7.2 billion [9].