TD Bank's CEO says he doesn't believe reports that employees broke the law to keep their jobs is an accurate portrayal of the bank's workplace culture.
In a statement late Sunday, Bharat Masrani says the CBC report doesn't reflect the experience of most of the bank's staff, but he takes the concerns the story raises seriously.
Masrani's comments came after TD Bank (TSX:TD) shares dropped more than five per cent Friday after the CBC reported that current and former bank employees alleged they broke the law to meet sales targets in order to stay employed.
TD's stock closed Friday on the S&P/TSX composite index at $66.00, down $3.88.
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