SAN DIEGO, May 07, 2020 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of TD Ameritrade Holding Corporation (AMTD) ("TD Ameritrade”) breached their fiduciary duties in connection with the proposed sale of the Company to The Charles Schwab Corporation (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.
TD Ameritrade shareholders will be subject to the future price fluctuation of Charles Schwab 's stock price. Charles Schwab stock closed at $34.57 on May 7, 2020.
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.
A shareholder vote has been set for June 4, 2020, 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, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
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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.
Johnson Fistel, LLP
Jim Baker, 619-814-4471