The Law Offices of Frank R. Cruz 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.
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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.
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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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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