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TD Ameritrade Must Face Certified Securities Fraud Class

Sept. 14, 2018, 9:02 PM

TD Ameritrade Holding Corp. must face a certified class of retail equity traders in a securities fraud case, a federal court ruled Sept. 14.

“The fact that individuals have claims that relate to different securities, different trades, and different amounts of damages is of little consequence to the commonality of the class,” Judge Joseph F. Bataillon wrote for the U.S. District Court for the District of Nebraska.

Without class status, those harmed by TD Ameritrade’s allegedly fraudulent order routing practices would have no recourse, the court said.

Gerald Klein sued the online brokerage firm over its uniform order routing practices....

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