Ameritrade Merger Litigation Settlement
This settlement is closed to new claims. You can still see what it was about and follow the case in court below. Looking for money you can still claim? Browse open settlements →
What happened
Plaintiff alleges that the October 2020 merger between Charles Schwab Corporation and TD Ameritrade violated Delaware law and fiduciary duty standards. The plaintiff claimed that TD Bank and Individual Defendants breached fiduciary duties in connection with the merger, and that TD Bank improperly leveraged its controlling stockholder position to obtain a special benefit through an amended deposit account agreement instead of negotiating for additional consideration for all stockholders. The defendants have settled for $31.5 million without admitting wrongdoing.
Do you qualify?
All record holders and beneficial holders of Ameritrade common stock who held shares at any point between November 25, 2019 (the merger agreement date) and October 6, 2020 (the merger closing date), including their heirs and successors. Excluded parties include defendants, their families, directors/senior officers of the three main companies, and parent/subsidiary entities of TD Bank or Charles Schwab.
How to file
This is a non-opt-out class action settlement that was already fully distributed in three installments (January 2024, January 2025, and June 2026) to all qualified shareholders based on the Court-approved Plan of Allocation. No new claims can be filed. Shareholders should contact the Settlement Administrator at 1-888-964-2135 or info@AmeritradeMergerLitigation.com with questions.
Common questions
- How much does the Ameritrade Merger Litigation Settlement pay?
- The total settlement fund is $31.5M. Actual amounts depend on how many valid claims are filed — most settlements divide a fixed fund pro rata, so a higher claim rate means a smaller individual check. An "up to" figure is a cap, not a guarantee.
- Is the Ameritrade Merger Litigation Settlement notice real, or a scam?
- JND Legal Administration is the settlement administrator for this case. Claims are filed at ameritrademergerlitigation.com. Filing a class action claim is always free — no legitimate settlement charges you to claim, and no administrator will ask for payment, a gift card, or your full Social Security number by email or text. If a notice asks for any of those, it is not from the administrator. When in doubt, ignore the link you were sent and go to the official settlement website directly.
- When will payments from the Ameritrade Merger Litigation Settlement be sent?
- Class action payouts typically take 12 to 24 months after the claim deadline, and longer if the settlement is appealed. The final approval hearing for this case is set for September 21, 2022; no payments can be issued before a settlement receives final approval.
In the news
- What the Charles Schwab-TD Ameritrade acquisition meansThe Week Magazine · November 26, 2019
- Why investors need to be smarter than ever about their money if a Schwab-Ameritrade merger happensMarketWatch · November 22, 2019
- What financial advisors, investors could expect from a Charles Schwab-TD Ameritrade mergerCNBC · November 21, 2019
- Proposed Schwab and TD Ameritrade Merger Offers Compelling Value and Strategy for Investors24/7 Wall St. · November 21, 2019
Headlines via NewsAPI. ClaimWatch isn't affiliated with these publications.
New to class actions?
This summary was generated from public settlement documents and may contain errors. Confirm eligibility, deadlines, and payment terms on the official settlement website before filing. ClaimWatch is not a law firm and this is not legal advice. Filing a claim is free.
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