Q: Not sure if this is a legit question for you. When there was a class action lawsuit on XBC, you indicated in an answer to one of your members that it wasn't worth your time. Would you mind giving your opinion about the TD Class Action lawsuit, covering the period December 3, 2015 to March 9, 2017. I can only verify that I held 153 shares. Thanks.
5i Research Answer:
TD reached a $15.9M settlement on an NSF lawsuit, which can be shared by up to 100,000 customers. Mathematically, that's $159 each but not everyone will claim, so the amount should be more, so we think this particular issue may be worthwhile applying for. But the issue represented in the question is this, with TD settling for $22M. During the period in question TD had about 1.8 billion shares outstanding. Again, it becomes a question of how many shareholders file a claim. The numbers do not make much sense if everyone files (12 cents) and the payout here is not likely to be worth the time and effort to claim.