NEW YORK--(BUSINESS WIRE)--Lynda J. Grant, an attorney with over 35 years of experience representing wronged shareholders and consumers and a New York Metro Superlawyer, announces that TheGrantLawFirm and the New York law firm, Stull Stull & Brody, have filed an action in the United States District Court for the District of New Jersey on behalf of holders of TD Ameritrade Holding Corporation (“TD Ameritrade” or the “Company”)(AMTD: NASDAQ) in connection with the proposed acquisition of TD Ameritrade by The Charles Schwab Corporation (“Charles Schwab”) announced on November 25, 2019. The complaint (“Complaint”) which alleges violations of the Securities Exchange Act of 1934 against TD Ameritrade, its Board of Directors, and Charles Schwab, is captioned Bernstein v. TD Ameritrade Holdings Corporation, 2:20-cv-03695 (D.N.J.).
On November 24, 2019, TD Ameritrade and Schwab entered into an agreement and plan of merger in which shareholders of TD Ameritrade will receive 1.0837 share of Charles Schwab for each TD Ameritrade share that they hold (the “Proposed Transaction”). Among other things, the Complaint alleges that in an attempt to secure shareholder approval of the Proposed Transaction, defendants issued a materially misleading Joint Proxy/Prospectus (the “Prospectus”), the preliminary version of which was filed with the United States Securities and Exchange Commission on March 10, 2020. The Complaint alleges, among the things, that the Prospectus omits material information about the Company’s projections, fails to reconcile GAAP and non-GAAP measures, and fails to include projections relied upon by the Company’s financial advisors. It also alleges that the Prospectus fails to fully disclose the financial incentives of the Company’s financial advisors in rendering their fairness opinions.
If you wish to discuss this action or have any questions as to your rights or interests, please contact Lynda J. Grant at TheGrantLawFirm, PLLC, by telephone: 212-292-4441, or email: firstname.lastname@example.org.