NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of The Toronto-Dominion Bank (NYSE: TD) resulting from allegations that TD may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased TD securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=7414 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
WHAT IS THIS ABOUT: On June 15, 2022, during trading hours and later updated after trading hours, CNBC published an article entitled “Sen. Warren asks bank regulator to reject TD’s $13.4 billion acquisition after customer-abuse report” which stated that “[i]n a letter sent Tuesday to the Office of the Comptroller of the Currency obtained exclusively by CNBC, Warren cited a May 4 report by Capitol Forum … that alleged that TD used tactics similar to those in the Wells Fargo fake accounts scandal.” The article further stated that “[w]orkers 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 one of the options, according to the Capitol Forum report. That was one of several strategies cited by the news organization, including fabricating reasons such as fraud alerts to call consumers in the hope of convincing them to open more accounts, opening new accounts rather than simply replacing missing debit cards, and misstating key aspects of overdraft programs to encourage their adoption.”
On this news, TD’s stock price fell $2.37 per share, or 3.4%, over the next full trading day from its close on June 14, 2022, to close at $66.61 per share on June 16, 2022, damaging investors.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm 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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