BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith 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 the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
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 customer's expense in order to meet sales targets; (2) TD illegitimately increased customer's 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.
On March 10, 2017, CBC News reported about the pressures put on TD Bank branch employees to sign up customers for products they don't need. The report said that current and former TD employees described a pressure cooker environment that has "zero focus on ethics." Following this news, TD stock dropped during intraday trading on March 10, 2017.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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