Shareholder Challenges TD Bank's $668M Epoch Purchase

Law360, New York (December 12, 2012, 6:37 PM EST) -- Investment adviser Epoch Holding Corp. and The Toronto-Dominion Bank Group was hit with a putative class action Tuesday in New York state court, alleging TD Bank's $668 million bid to buy Epoch cuts shareholders out of future dividends.

Lead plaintiff the Cindy Goldman TTEE GSS 508 Trust alleges the merger does not offer shareholders any premium to the company’s trading range over the past year. Although an analyst has assigned a value of $37 per Epoch share, stockholders would only receive $28 per share, according to...
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