Settlement Clears Path To TD-Commerce Merger

Law360, New York (January 07, 2008, 12:00 AM ET) -- With their $8.5 billion merger in jeopardy, the Toronto-Dominion Bank and Commerce Bancorp Inc. have reached a settlement putting to rest a slew of shareholder suits filed in the wake of their October merger announcement.

In a proxy statement filed with the U.S. Securities and Exchange Commission Friday, Commerce said an agreement-in-principle was reached on Dec. 31 in the U.S. District Court for the District of New Jersey, settling the claims of ten putative class action suits filed in New Jersey state court as well as...
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