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Case Status:    DISMISSED    
On or around 07/27/2020 (Other)

Filing Date: April 23, 2020

According to the Complaint, E*TRADE Financial Corporation and its subsidiaries provide financial services including brokerage and banking products and services to traders, investors, stock plan administrators and participants, and registered investment advisers.

This action stems from a proposed transaction announced on February 20, 2020, pursuant to which E*TRADE Financial Corporation will be acquired by Morgan Stanley.

On February 20, 2020, E*TRADE’s Board of Directors caused the Company to enter into an agreement and plan of merger with MS. Pursuant to the terms of the Merger Agreement, E*TRADE’s stockholders will receive 1.0432 shares of Parent common stock for each share of E*TRADE common stock they own.

On April 17, 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.

This case was voluntarily dismissed on July 24, 2020.


Sector: Financial
Industry: Investment Services
Headquarters: United States


Ticker Symbol: ETFC
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.
COURT: D. Delaware
DOCKET #: 20-CV-00553
JUDGE: Hon. Richard G. Andrews
DATE FILED: 04/23/2020
CLASS PERIOD END: 04/23/2020
  1. Rigrodsky & Long, P.A. (Wilmington)
  2. RM Law, P.C. (Berwyn)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available