Toronto-Dominion Bank (TSX:TD) wants to keep details confidential in a multimillion-dollar settlement with investors victimized in a US$1.2-billion fraud led by a now-imprisoned South Florida lawyer.
Lawyers for TD Bank objected Tuesday to releasing any specifics of its deal with 55 investors known as the Razorback Group.
A judge in Florida’s Broward County didn’t immediately rule, but scheduled a hearing Friday.
The investors claimed about US$180 million in losses from lawyer Scott Rothstein’s huge Ponzi scheme. They also claimed TD Bank employees played a key role in the scam.
Last month a Miami jury decided that TD Bank owed US$67 million to a separate group of Rothstein’s investors.
Rothstein is serving a 50-year prison sentence after pleading guilty to the fraud, which involved investments in phoney legal settlements.