Ameritrade is being accused of costing investors $100 million by delaying orders to buy and sell stock. A federal class action alleges that the online broker in one instance took more than an hour to execute a trade, costing an investor more than $26,000. Ameritrade, which also faces a class action accusing it of having "antiquated" systems, could become the largest online broker thanks to a recently signed deal to acquire rival TD Waterhouse USA for about $3 billion.
August 11, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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