TD Ameritrade Investor Seeks Halt Of $26B Schwab Deal

Law360 (March 25, 2020, 5:16 PM EDT) -- TD Ameritrade and its directors have been hit with an investor suit in Delaware federal court seeking to halt the brokerage’s $26 billion merger with Charles Schwab, with the suing shareholder asserting that not enough financial detail about the deal has been publicly disclosed.

In a suit made public Tuesday, stockholder Shiva Stein asserts that TD Ameritrade Holding Corp. and its directors have violated securities law by filing a statement with the U.S. Securities and Exchange Commission earlier this month that she claims was lacking in key financial details about the transaction.

Stein is seeking to have the merger halted until...

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