In Re: TD Banknorth


06/25/09 – 06/25/09


Settlement hearing.

Via Bloomberg News: " April 21 (Bloomberg) -- TD Banknorth Inc. agreed to pay $50 million to settle for the second time a class-action lawsuit brought by former investors challenging the fairness of the company’s buyout by Toronto-Dominion Bank.

TD Banknorth shareholders sued in Delaware Chancery Court in Wilmington in 2006, contending the $3.2 billion offer for 41 percent of the stock that Toronto-Dominion didn’t already own was too low. Judge Stephen Lamb in 2007 rejected as insufficient a lawsuit settlement that gave stockholders about $3 million and lawyers more than $1 million in legal fees."


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