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TD Ameritrade Adviser Misled On Options Strategy, Suit Says

Law360, Springfield (January 22, 2018, 10:02 PM EST) -- A putative class of investors sued TD Ameritrade Inc. and one of its investment advisers in Illinois federal court Friday, claiming they lost significant money in a trading strategy the company said was stable and conservative.

Named plaintiffs Thackery Gray and Yelena Gray, an Illinois couple, alleged TD Ameritrade was incentivized to set its clients with Indianapolis-based investment advisory firm Sheaff Brock Investment Advisors LLC, who then sold them on its “put options income” trading strategy. However, the Grays alleged, despite promises the strategy was low-risk...
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