NEW YORK, March 23, 2017 (GLOBE NEWSWIRE) -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against The Toronto-Dominion Bank (“TD” or the “Company”) (NYSE: TD ) and certain of its officers, and is on behalf of a class consisting of all persons or entities who purchased TD securities between December 3, 2015 through March 9, 2017, both dates inclusive (the “Class Period"). Investors are encouraged to learn more about this case by visiting the firm’s site: http://www.bgandg.com/td .
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose that: (1) TD’s wealth asset growth and increased fee-based revenue was spurred by a performance management system that steered its employees into breaking the law at their customer’s expense in order to meet sales targets; (2) TD illegitimately increased customer’s lines of credit and overdraft protection amounts without their knowledge; (3) TD illegitimately upgraded customers to higher-fee accounts without informing them; (4) TD lied to customers as to the risk of its products; and (5) consequently, defendants’ statements about TD’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On March 10, 2017, CBC News reported about the pressures put on TD Bank branch employees to sign up customers for products they didn’t need. The report said that current and former TD employees described a pressure cooker environment that has “zero focus on ethics.” Following this news, TD stock dropped during intraday trading on March 10, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/td or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. You have until May 11, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com
