BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation of The Toronto-Dominion Bank (“TD Bank” or the “Company”) (NYSE: TD) on behalf of First Horizon Corporation Bank (“First Horizon”) (NYSE: FHN) investors concerning the Company’s possible violations of federal securities laws.
On March 1, 2023, First Horizon disclosed that TD Bank was unable to timely close a transaction to purchase First Horizon due to TD Bank’s inability to obtain the necessary regulatory approvals. On this news, First Horizon’s stock price fell $2.63, or 10.6%, to close at $22.14 per share on March 1, 2023, thereby injuring investors.
Then, on May 4, 2023, before the market opened, First Horizon and TD Bank announced that they had agreed to terminate the transaction, explaining that TD Bank did not “have a timetable for regulatory approvals to be obtained” and that there was “uncertainty as to when and if these regulatory approvals [could] be obtained.” On this news, First Horizon’s stock price fell $4.99, or 33.2%, to close at $10.06 per share on May 4, 2023, thereby injuring investors further.
If you purchased First Horizon securities, have information or would like to learn more about these claims, or 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 howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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