0 results for 'TD Ameritrade Inc'
TD Ameritrade Settles for $456 Million in Auction-Rate Securities Suit
In a settlement with New York Attorney General Andrew Cuomo announced Monday, TD Ameritrade agreed to return some $456 million to roughly 4,000 customers who bought now-frozen auction-rate securities. Also Monday, Cuomo announced that his office intends to file fraud charges against Charles Schwab & Co. if a similar matter is not resolved by Friday. The SEC is pursuing another downstream broker, Morgan Keegan, with a civil suit filed in federal court in Georgia on Tuesday.Lawsuit Accuses Ameritrade of Delaying Trades
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.Brokers flee brokerages as declining assets show broken model
After Morgan Stanley took control of Smith Barney in May 2009 from Citigroup Inc., David Hopkins grew disillusioned with his new bosses.Schwab Topping Goldman Sachs Presages Return To Stocks
Shares of discount brokers are gaining the most since 2003 compared with the Standard & Poor's 500 Index, a sign that small investors are joining the four-year bull market even after U.S. stocks suffered their biggest losses in six months.Auction-rate securities suits rising
Investors holding securities tied to the stalled auction-rate market, which sets interest rates for certain types of bonds at periodic auctions, are filing lawsuits and arbitration proceedings alleging, among other things, that investors were deceived. Planitiffs' lawyer Ed Korsinsky said the involved investors thought they were buying something akin to a money market account, not securities.'Cautionary tale' shows risk of prosecution
On April 14, 2011, James Fan stood on the landing of a parking garage at Newark Liberty International Airport, a cheer-up letter from his young son in his pants pocket, the prospect of a four-story leap facing him.Attorney Sentenced for Losing $2 Million From Client Trust Fund
A Southern California lawyer who lost more than $2 million from a class action settlement by investing client trust funds in the stock market has been sentenced to 18 months in prison. Sandeep Baweja of the Baweja Law Group in Irvine, Calif., pleaded guilty in October to one count of wire fraud and one count of obstruction of justice after confessing that he had clandestinely transferred $2.5 million from an account at Union Bank of California into an online stock brokerage account with TD Ameritrade Inc.TD Bank Doubles Advisers In Push For Wealthy Americans
Toronto-Dominion Bank is ramping up its U.S. asset-management business while doubling the number of advisers for wealthy American clients in an bid to accelerate profit.Trending Stories
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