LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased The Toronto-Dominion Bank (“TD Bank” or the “Company”) (NYSE: TD) securities between December 3, 2015 through March 9, 2017, inclusive (the “Class Period”). TD Bank investors have until May 11, 2017 to file a lead plaintiff motion.
Investors suffering losses on their TD Bank investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to firstname.lastname@example.org.
On March 10, 2017, CBC News reported that TD Bank put pressure on branch employees to sign up customers for products they didn’t need. The report alleged that current and former TD Bank employees described a pressure cooker environment with “zero focus on ethics.” Following this news, TD Bank’s stock price declined on March 10, 2017, thereby injuring investors.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed that: (1) TD's wealth asset growth and increased fee-based revenue was spurred by a performance management system that steered to its employees breaking the law at their customers' expense in order to meet sales targets; (2) TD illegitimately increased customers' lines of credit and overdraft protection amounts without their knowledge; (3) TD illegitimately upgraded customers to higher-fee accounts without informing them; (4) TD lied to customers as to the risk of its products; and (5) consequently, defendants' statements about TD's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased shares of TD Bank during the Class Period you may move the Court no later than May 11, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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