The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of The Toronto-Dominion Bank (“TD” or “the Company”) (NYSE: TD) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. TD is the subject of a CNBC article published on June 15, 2022, titled: “Sen. Warren asks bank regulator to reject TD’s $13.4 billion acquisition after customer-abuse report.” According to the article, “In 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 adds, “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 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.”
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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