TD Bank settles excessive overdraft class action

May 21, 2012 by

I have reported on a number of settlements of excessive overdraft class actions pending against various banks in the Southern District of Florida.  Another one settled.  

Plaintiffs and Defendant TD Bank filed a Joint Notice of Settlement on May 11, 2012.  In the Notice of Settlement, Plaintiffs and TD Bank advised the Court that on May 8, 2012, they executed a Summary Agreement that sets forth the material terms of the parties’ binding and enforceable agreement to fully, finally and forever resolve, discharge, and release all rights and claims in, or that could have been asserted in the excessive overdraft class actions filed against TD Bank in exchange for the payment of $62 million.

The settlement is subject to preliminary and final approval of the settlement and dismissal of the actions with prejudice by the Court. The parties further advised that the settlement will be memorialized in a comprehensive written Settlement Agreement, which the parties will endeavor to file with the Court as part of a motion for preliminary approval.

Steve Larson
An experienced trial lawyer who handles both hourly and contingent fee cases, Steve has expertise in class actions, consumer cases, antitrust litigation, securities litigation, corporate disputes, intellectual property disputes, unfair competition claims, employment matters, and disputes involving family wealth. Steve regularly represents individuals and businesses in federal and state court and has obtained class-wide recovery in multiple class actions. A veteran practitioner, Steve's clients value his creative approach to resolving complex litigation matters.

Legal Disclaimer

The information contained in this blog does not constitute legal advice, and does not create an attorney-client relationship. We make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in or linked to this blog.