In Re TD Banknorth Shareholders Litigation

OPINION

LAMB, Vice Chancellor.

This is a class action litigation arising from the recent $3.19 billion merger by which The Toronto-Dominion Bank acquired the remaining publicly traded shares of TD Banknorth, Inc. Before the court is a proposal to settle providing that, in exchange for releasing the defendants from any potential liability in connection with the merger, the class has received or will receive: (i) $0.03 per share in monetary consideration; 1 (ii) the exclusion from the majority-of-the-minority vote calculation of approximately 11,500 shares out of over 97 million eligible shares…