On or around 03/19/2020 (Date of last review)
Filing Date: March 18, 2020
According to the Complaint, TD Ameritrade provides investing services and education to approximately 12 million client accounts totaling approximately $1.3 trillion in assets, and custodial services to more than 7,000 registered investment advisors.
This action stems from a proposed transaction announced on November 25, 2019, pursuant to which TD Ameritrade Holding Corporation will be acquired by The Charles Schwab Corporation ("Parent").
On November 24, 2019, TD Ameritrade’s Board of Directors caused the Company to enter into an agreement and plan of merger with Charles Schwab. Pursuant to the terms of the Merger Agreement, TD Ameritrade’s stockholders will receive 1.0837 shares of Parent common stock for each share of TD Ameritrade common stock they own.
On March 10, 2020, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.
Company & Securities Information
Defendant: TD Ameritrade Holding Corporation
Industry: Investment Services
Headquarters: United States
Ticker Symbol: AMTD
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Michael Kent, et al. v. TD Ameritrade Holding Corporation, et al.
COURT: D. Delaware
DOCKET #: 20-CV-00388
JUDGE: Hon. Richard G. Andrews
DATE FILED: 03/18/2020
CLASS PERIOD START: 11/26/2019
CLASS PERIOD END: 03/18/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Rigrodsky & Long, P.A. (Wilmington)
RM Law, P.C. (Berwyn)
First Identified Complaint (FIC) Filings:
Complaint for Violation of the Securities Exchange Act of 1934
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available