BALA CYNWYD, PA / ACCESSWIRE / December 2, 2019 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of TD Ameritrade Holding Corporation ("TD Ameritrade" or "the Company") (AMTD) for possible breaches of fiduciary duty and other violations of federal and state law in connection with proposed acquisition of the Company by The Charles Schwab Corporation (NYSE:SCHW). Under the terms of the agreement, TD Ameritrade shareholders will receive only 1.0837 shares of Charles Schwab stock for each share of TD Ameritrade common stock owned. This exchange ratio implied a deal price of $52.23 as of the last day of trading before the announcement.
The investigation concerns whether the TD Ameritrade Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Charles Schwab is underpaying for the Company. The transaction may undervalue the Company and would result in a substantial loss for many TD Ameritrade shareholders. For example, at least one analyst following the Company has set a price target of $60.00. Additionally, the implied deal price is well-below the 52-week high of $57.88.
If you own shares of TD Ameritrade stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/td-ameritrade-holding-corporation-nasdaqgs-amtd/, or calling toll free 877-534-2590.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC
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