TD Ameritrade Settles Data Breach Suit For Up To $6.5M

Law360, New York (September 13, 2011, 5:51 PM EDT) -- TD Ameritrade Inc. agreed Tuesday to pay up to $6.5 million to settle a class action in California accusing the online broker of improperly allowing third parties to access customer information.

U.S. District Judge Saundra Brown Armstrong granted final approval to the settlement, which provides for a total payment to class members between $2.5 million and $6.5 million, depending on the number of claims submitted.

Class members, estimated to number about six million, are entitled to between $50 and $2,500 each depending on the severity of...
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Case Information

Case Title

In re TD Ameritrade Accountholder Litigation


Case Number

4:07-cv-02852

Court

California Northern

Nature of Suit

Fraud or Truth-In-Lending

Judge

Saundra Brown Armstrong

Date Filed

May 31, 2007

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