TD investors who bought on the NYSE and incurred losses were encouraged to contact the firm before the December 23, 2024 deadline.
San Francisco, California–(Newsfile Corp. – December 21, 2024) – On December 11, 2024, a second investor in the Toronto Dominion Bank (New York Stock Exchange: TSX:) filed a class action lawsuit that extended the class period in the related case to begin on March 7, 2022 and end on October 9, 2024. Both cases follow the U.S. Department of Justice's announcement on October 10, 2024 that TD's U.S. subsidiaries have pleaded guilty to Violation of the Bank Secrecy Act and conspiracy to commit money laundering. The decision included a fine of $3.09 billion, a cap on assets, and increased regulatory oversight.
Hagens Berman urges only investors who bought Toronto-Dominion Bank (NYSE: TD) Stocks on the New York Stock Exchange who suffered huge losses are now filing their losses.
Extended class period: March 7, 2022 – October 9, 2024
Lead Plaintiff Deadline: December 23, 2024
Visit: www.hbsslaw.com/investor-fraud/td
Contact the company now: TD@hbsslaw.com
844-916-0895
Toronto Dominion Securities (TD) Bank Class Action Lawsuits:
Since March 7, 2022, TD has assured investors that it is committed to taking all reasonable and appropriate steps to detect and deter persons involved in money laundering.
The truth about TD's wrongdoing came to light on October 10, 2024, when the US Department of Justice announced that TD's US subsidiaries had pleaded guilty to violating the Bank Secrecy Act and conspiracy to commit money laundering. The decision included a fine of $3.09 billion, a cap on assets, and increased regulatory oversight.
The Justice Department found that TD Bank intentionally did not automatically monitor 92% of transactions, or $18.3 trillion, from January 1, 2018, to April 12, 2024. The Justice Department also said the internal review of the company “Concerns were frequently identified About its transaction monitoring program, which is an essential element of an appropriate anti-money laundering program necessary to properly detect and report suspicious activities.
“For many years, TD Bank has starved its compliance program of the resources needed to comply with the law,” said Deputy Attorney General Lisa Monaco.
“(b)By making its services available to criminals, TD Bank became one(,),” Attorney General Merrick Garland said, adding “
Following this announcement, TD Bank's stock price plummeted, losing over 10% in the two days after the news was announced.
Since then, on November 22, 2024, TD announced that its global chief auditor was leaving the company, and on December 6, 2024, it said it would suspend some medium-term financial targets, attributing the move in part to anti-money laundering treatment. .
“The alleged misconduct by TD Bank represents a serious breach of trust with its investors. We believe investors deserve to be compensated for the losses they suffered as a result of the bank's allegedly misleading statements,” said Reed Katherine, the Hagens Berman partner leading the investigation. .
If you invested in Toronto-Dominion and suffered significant losses, or have knowledge that may assist in the company's investigations, submit your losses now »
If you would like more information and answers to frequently asked questions about the Toronto Dominion case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Toronto-Dominion should consider their options to assist in the investigation or utilize the SEC Whistleblower Program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Catherine Reed at 844-916-0895 Or email TD@hbsslaw.com.
# # #
About Hagens Berman
Hagens Berman is a global, complex plaintiffs' rights litigation firm focused on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases that achieve real results for those harmed by corporate negligence and other wrongdoing. The Hagens Berman team has earned more than $2.9 billion in this area of law. More about the company and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234851
