SAN DIEGO, Nov. 25, 2019 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of TD Ameritrade Holding Corporation
(NASDAQ: AMTD) ("TD Ameritrade") breached their fiduciary duties in
connection with the proposed sale of the Company to The Charles
Schwab Corporation (NYSE: SCHW) ("Charles
Schwab").
On November 25, 2019, TD
Ameritrade announced that it had signed a definitive merger
agreement with Charles Schwab. Under
the terms of the deal, TD Ameritrade stockholders will receive
1.0837 Charles Schwab shares for
each share of TD Ameritrade common stock they own. Based on
Charles Schwab 's closing stock
price on November 20, 2019, the
consideration to be received by TD Ameritrade stockholders is
$48.50 per share.
TD Ameritrade shareholders will be subject to the future price
fluctuation of Charles Schwab
's stock price. Following the news, in pre-market trading on
November 25, 2019, Charles Schwab stock was trading at $47.72.
The investigation concerns whether the TD Ameritrade board
failed to satisfy its duties to the Company shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for TD Ameritrade shares of common stock. Nationally recognized
Johnson Fistel is investigating
whether the proposed deal represents adequate consideration,
especially given the Company's strong balance sheet. The 52-week
high for TD Ameritrade was $57.88.
If you are a shareholder of TD Ameritrade and believe
the proposed buyout price is too low or you're interested in
learning more about the investigation or your legal rights and
remedies, please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at
619-814-4471. If emailing, please include a
phone number.
Additionally, you can [Click here to join this action].
There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
https://www.johnsonfistel.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
[Click here to join this action]
View original
content:http://www.prnewswire.com/news-releases/td-ameritrade--amtd-alert-johnson-fistel-investigates-proposed-sale-of-td-ameritrade-are-shareholders-getting-a-fair-deal-300964516.html
SOURCE Johnson Fistel, LLP