San Diego, CA -- (SBWIRE) -- 03/20/2017 -- The Shareholders Foundation announces that an investor, who purchased shares of Toronto-Dominion Bank (NYSE:TD), filed a lawsuit in New Jersey over alleged violations of Federal Securities Laws by Toronto-Dominion Bank.
Investors who purchased shares of Toronto-Dominion Bank (NYSE:TD), you have certain options and for certain investors are short and strict deadlines running. Deadline: May 11, 2017. NYSE:TD investors should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff claims that between December 3, 2015 and March 9, 2017, the defendants made false and/or misleading statements and/or failed to disclose that TD Bank's wealth asset growth and increased fee-based revenue was spurred by a performance management system that led to its employees breaking the law at their customer's expense in order to meet sales targets, that TD Bank illicitly increased customer's lines of credit and overdraft protection amounts without their knowledge, that TD Bank illicitly upgraded customers to higher-fee accounts without informing them, that TD Bank lied to customers as to the risk of TD Bank's products, and that as a result, defendants' statements about TD Bank's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times
On March 10, 2017 a report was published about alleged pressures put on Toronto-Dominion Bank branch employees to sign up customers for products they don't need. According to the report, current and former TD Bank employees described a pressure cooker environment that has "zero focus on ethics."
On March 10, 2017, NYSE:TD shares closed at $49.02 per share.
Those who purchased shares of Toronto-Dominion Bank have certain options and should contact the Shareholders Foundation.
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