NEW YORK, Nov. 26, 2019 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of TD Ameritrade
Holding Corp. ("AMTD" or the "Company") (NASDAQ: AMTD) in
connection with the proposed acquisition of the Company by The
Charles Schwab Corporation ("SCHW") (NASDAQ: SCHW). Under the terms
of the acquisition agreement, AMTD shareholders will receive 1.0837
shares of SCHW for each share they own, representing consideration
of $51.67 based on SCHW's
November 22 opening price.
If you own AMTD shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/td-ameritrade-holding-corp/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether AMTD's Board acted to maximize
shareholder value prior to entering into the acquisition
agreement. Notably, AMTD shares traded for $52.17, or $0.50
above the per-share consideration, as recently as July.
Additionally, the per-share consideration is $6.21 less than the Company's 52-week high of
$57.88.
Moreover, the Company recently announced positive financial
results for the fiscal year ended September
30, 2019. It reported new client assets of
$93 billion and client trades per day
of approximately 860,000, setting new records for the Company and
representing growth of 7% and 6% respectively. It also
reported an impressive 72% growth in non-GAAP net income.
Given these facts, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition is fully and fairly
disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP