Philadelphia, Pennsylvania--(Newsfile Corp. - July 11, 2024) - Berger Montague PC is currently investigating potential violations of anti-money-laundering ("AML") laws and the federal securities laws, as well as breaches of fiduciary duties on behalf of investors in The Toronto-Dominion Bank ("TD Bank" or the "Company") (NYSE: "TD") during the period of August 26, 2021 through and including May 23, 2024.
TD Bank, a Canadian corporation, is a financial services company which operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking.
On May 2, 2024, the Wall Street Journal reported that TD Bank was implicated in multiple money-laundering inquiries by regulators. According to the report, the Company set aside approximately $450 million to resolve inquiries relating to violations of anti-money laundering ("AML") laws, and that it expected that it may be required to set aside hundreds of millions more to pay penalties.
Berger Montague is investigating, among other things, whether TD Bank failed to disclose that it would likely be required to recognize a material provision of hundreds of millions, if not billions, of dollars due to the potential impact on TD Bank's U.S. operations of regulatory action stemming from the Company's systemic AML control deficiencies.
If you are a TD Bank investor and would like to learn more about our investigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net or (215) 875-3048, or CLICK HERE.
Berger Montague, with offices in the United States and Canada, including Chicago, Delaware, Minneapolis, Philadelphia, San Diego, San Francisco, Toronto, and Washington, D.C., has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
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