The Toronto-Dominion Bank (NYSE: TD)

This lawsuit is for anyone who acquired securities in The Toronto-Dominion Bank (NYSE: TD) from March 7, 2022 through October 9, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company had proper controls to prevent criminals from laundering money through the bank but then by allowing criminals to launder money through the bank.

On May 2, 2024, The Wall Street Journal reported that the US Department of Justice had launched an investigation after finding evidence of an operation in New York and New Jersey that laundered hundreds of millions of dollars in proceeds from illicit narcotics through TD and other banks. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on October 10, 2024, news outlets reported that TD had plead guilty to criminal money-laundering-related charges and agreed to pay more than $3 billion in fines to the U.S. Department of Justice, the Federal Reserve, the Comptroller of the Currency, and the Treasury Department’s Financial Crimes Enforcement Network. News outlets further reported the Comptroller of the Currency imposed an “asset cap” which limits the Company’s growth until it complies with remedial actions specified by regulators. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in The Toronto-Dominion Bank (NYSE: TD) from March 7, 2022 through October 9, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.