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This settlement is closed!
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TD Bank has agreed to pay $550,000 to resolve claims that their coin counting machines in Canada didn’t properly count the coin value.
The settlement will benefit Canadian citizens who used a TD Bank coin counting machine between Jan. 1, 2013 and May 25, 2016.
Plaintiff Lisa Ram filed her class action lawsuit against TD Bank in June 2016, claiming that the bank’s coin counters did not accurately count coins deposited by consumers. The bank recently agreed to settle the claims but has not admitted any wrongdoing.
Although the recent settlement resolves only Canadian claims against the bank, TD Bank has faced similar allegations in U.S. court regarding other coin counting issues.
In April 2016, a TD Bank class action lawsuit was filed in Florida federal court. The plaintiff claimed that the bank’s Penny Arcades (coin counting machines provided to customers and non-customers) inaccurately counted the value of deposited coins.
In August 2017, TD Bank agreed to pay $7.5 million to resolve the claims brought in numerous coin counting class action lawsuits against them. The settlement benefited any U.S. consumer who used a Penny Arcade machine between April 11, 2010 and July 12, 2017.
Under the TD Bank coin counting settlement, Class Members can collect up to two percent of their proportional share of the settlement fund. The distribution protocol is complicated, but there is a detailed example available in the “Potential Award” section below.
If Class Members wish to recover payment from the TD Bank settlement, they need to file a valid claim by Sept. 19, 2019. The deadline for exclusion or objection was April 15, 2019.
The TD Bank class action settlement received final approval on April 15, 2019.
Who’s Eligible
Canadian citizens who used a TD Bank coin counting machine between Jan. 1, 2013 and May 25, 2016.
Potential Award
Up to two percent of the Class Member’s deposited coin value.
For example, if a Class Member deposited $500 in coins they may be entitled to $10. This situation assumes that the net settlement fund after deduction of fees and costs is $345,000 and that all Class Members claim a total deposited coin value of $1 million.
The example Class Member, having claimed $500 in deposited coins, would be eligible for 0.05 percent ($500/$1,000,000) of the $345,000 settlement fund.
This proportional share of the settlement fund would come to a total of $172.50, which equals 34.5 percent of the example Class Member’s deposited coins.
The settlement only allows consumers to collect two percent of their deposited coin value, so the example Class Member would be entitled to $10 in recovery.
However, it should be noted that claims will be paid a minimum of $25 in order to satisfy administrative requirements.
Proof of Purchase
Documentation supporting the value of deposited coins.
Claim Form
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
9/16/2019
Case Name
Ram v. The Toronto Dominion Bank, Case No. C-680-16, in the Ontario Superior Court of Justice
Final Hearing
4/15/2019
Settlement Website
Claims Administrator
Trilogy Class Action Services
c/o TD Coin Class Action Settlement
117 Queen Street
P.O. Box 1000
Niagara-on-the-Lake, ON L0S 1J0
claims@TrilogyClassActions.ca
1‑877‑400‑1211
Class Counsel
Jean Marc Leclerc
SOTOS LLP
Defense Counsel
Christine Lonsdale
MCCARTHY TETRAULT LLP
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