NEW YORK–(BUSINESS WIRE)–WHY: Rosen Law Firm, a global investor rights law firm, announces investigation into potential securities claims on behalf of shareholders of The Toronto-Dominion Bank (NYSE: TD) resulting from allegations that TD may have provided misleading business information to the investing public.
SO WHAT: If you purchased TD securities, you may be entitled to compensation without incurring any fees or costs under a contingent fee arrangement. The Rosen law firm is preparing a class action lawsuit to recover investors’ losses.
WHAT TO DO NEXT: To join the potential class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=7414 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for class action information.
WHAT DOES IT TALK ABOUT: On June 15, 2022, during trading hours and later updated after trading hours, CNBC published an article titled “Sen. Warren is asking the banking regulator to reject the $13.4 billion acquisition of TD after a report of customer abuse “which stated that”[i]In a letter sent Tuesday to the Office of the Comptroller of the Currency obtained exclusively by CNBC, Warren cited a May 4 report from the Capitol Forum… which alleged that TD used tactics similar to those in the Wells Fargo fake account scandal. The article further stated that “[w]Workers were instructed to create four new accounts for each customer — checking, savings, online and a debit card — and opened accounts even if a consumer declined any of the options, the Capitol report said. Forum. It was one of several strategies cited by the news agency, including fabricating reasons such as fraud alerts to call consumers in hopes of convincing them to open more accounts, open new accounts rather than simply replacing missing debit cards and misrepresenting key aspects of overdraft. programs to encourage their adoption.
As a result of this news, TD’s stock price fell $2.37 per share, or 3.4%, over the next full trading day since its close on June 14, 2022, to close at $66.61 per share on June 16, 2022, which hurt investors.
WHY THE ROSEN LAW: We encourage investors to select qualified lawyers with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Many of these companies do not bring securities class action lawsuits. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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