Mark A. Kornfeld quoted in article “Plaintiffs Suing TD Bank Unlikely to Accept Proposed Rothstein Settlement”MoneyLaundering.com 06/12/13
Below is an excerpt:
Plaintiffs suing Toronto Dominion Bank over its ties to convicted Ponzi schemer Scott Rothstein aren't interested in a $72 million settlement that would grant the institution immunity from future litigation. According to MoneyLaundering.com, the proposal would effectively shield the bank from paying further punitive damages related to the case.
"There were third-party investors with Rothstein who believe they were defrauded ... and who believe they have common law damages claims against entities such as TD Bank," he said. "The tension is that investors and their counsel may wish to pursue their own independent claims in a search for what they believe might yield a higher recovery."