A lawsuit was filed by an investor of TD Ameritrade Holding Corporation (NASDAQ: AMTD) in connection with the proposed takeover.
San Diego, CA -- (SBWIRE) -- 04/16/2020 -- The Shareholders Foundation announced that an investor, who currently hold shares of TD Ameritrade Holding Corporation (NASDAQ: AMTD), filed a lawsuit in connection with the proposed takeover of TD Ameritrade Holding Corporation.
Investors who purchased shares of TD Ameritrade Holding Corporation (NASDAQ: AMTD) and currently hold any of those NASDAQ: AMTD shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Omaha, NE based TD Ameritrade Holding Corporation provides securities brokerage and related technology-based financial services to retail investors and traders, and independent registered investment advisors (RIAs) in the United States. On November 25, 2019, the Charles Schwab Corporation ("Schwab") and TD Ameritrade Holding Corporation ("TD Ameritrade") announced that they have entered into an agreement for Schwab to acquire TD Ameritrade in an all-stock transaction valued at approximately $26 billion. Under the agreement, TD Ameritrade stockholders will receive 1.0837 Schwab shares for each TD Ameritrade share. 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.
However, the plaintiff alleges that that the Registration Statement that was filed in connection with the proposed transaction omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.
At least one analyst has set the high target price for NASDAQ: AMTD at $63.00 per share.
TD Bank and certain stockholders of TD Ameritrade (who collectively own approximately 52% of the TD Ameritrade shares), and certain stockholders associated with Charles R. Schwab (who own approximately 10% of the Schwab shares), have already agreed to vote their shares in favor of the transaction.
TD Ameritrade Holding Corporation reported that its Total Revenue rose from over $5.34 billion for the 12 months period that ended on September 30, 2018 to over $5.87 billion for the 12 months period that ended on September 30, 2019 and that its Net Income over those respective time periods increased from over $1.47 billion to over $2.2 billion.
Those who are current investors in TD Ameritrade Holding Corporation (NASDAQ: AMTD) shares have certain options and should contact the Shareholders Foundation.
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