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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of September 19, 2019 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
You must register to view and download the Settlement Notice and Settlement Proof.
July 18, 2019 - The court preliminarily approved the settlement.
June 20, 2019 - A stipulation of settlement was filed by the parties.
December 6, 2018 - The court granted in part and denied in part the defendants' motion to dismiss.
April 16, 2018 - A motion to dismiss the second corrected amended complaint was filed.
March 5, 2018 - A second corrected amended complaint was filed.
March 2, 2018 - A corrected amended complaint was filed.
February 28, 2018 - An amended complaint was filed.
March 12, 2017 (Shareholders Foundation) - An investor in shares of Toronto-Dominion Bank (NYSE:TD) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Toronto-Dominion Bank in connection with certain allegedly false and misleading statements made between December 3, 2015 and March 9, 2017.
According to the complaint the plaintiff alleges on behalf of purchasers of Toronto-Dominion Bank (NYSE:TD) common shares between December 3, 2015 and March 9, 2017, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between December 3, 2015 and March 9, 2017, the defendants made false and/or misleading statements and/or failed to disclose that TD Bank’s wealth asset growth and increased fee-based revenue was spurred by a performance management system that led to its employees breaking the law at their customer’s expense in order to meet sales targets, that TD Bank illicitly increased customer’s lines of credit and overdraft protection amounts without their knowledge, that TD Bank illicitly upgraded customers to higher-fee accounts without informing them, that TD Bank lied to customers as to the risk of TD Bank’s products, and that as a result, defendants’ statements about TD Bank’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On March 10, 2017 a report was published about alleged pressures put on Toronto-Dominion Bank branch employees to sign up customers for products they don’t need. According to the report, current and former TD Bank employees described a pressure cooker environment that has “zero focus on ethics.”
On March 10, 2017, NYSE:TD shares closed at $49.02 per share.