TD Bank sues Live Lobster Co. for $3.4M

Three weeks after freezing Live Lobster Co.'s checking accounts, TD Bank has sued the Gouldsboro processor for $3.4 million. The bank says the company is not paying creditors and violating agreements with the bank.
Chelsea, Mass.-based Live Lobster Co., which operates in Maine as Lobster Web Co., halted lobster buying and processing when TD Bank froze its accounts on March 23. The bank filed a suit against the company April 12 in U.S. District Co ...