According to the complaint, on October 10, 2024, TD unveiled the resolutions reached from United States investigations, which included, in addition to the punitive payment of $3.09 billion, both an asset cap, preventing TD’s U.S. subsidiaries from exceeding a collective $434 billion, a reflection of the Company’s assets as of September 30, 2024, and further subjects TD to more stringent approval processes for its product, service, and market rollouts. Further, the Department of Justice, in their own corresponding release, highlighted the significance of TD’s failures as “the largest bank in U.S. history to plead guilty to Bank Secrecy Act program failures, and the first US bank in history to plead guilty to conspiracy to commit money laundering.”
The unveiling of the scope of the Company’s anti-money laundering failures surprised investors and analysts alike as they reacted immediately to the revelations. The price of TD’s common stock declined dramatically. From a closing market price of $63.51 per share on October 9, 2024, TD’s stock price fell to $59.44 per share on October 10, 2024, and further to $57.01 on October 11, 2024, a decline of more than 10.23% in the span of just two days.
In order to be included in the lawsuit, you must have incurred a loss on shares of TD purchased or acquired during the class period listed above.
If you suffered a loss in TD during the relevant time frame, you have until December 23, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
