Judge Rules Class-Action Lawsuit Against TD Ameritrade Can Proceed

By Anonymous

Plaintiffs allege the discount brokerage prioritized its profits over their best interest on stock transactions

Mom-and-pop investors who think their brokers are prioritizing high-frequency traders over them may soon have a chance to try to prove their case in court.

A federal judge in Nebraska this month ruled a class-action lawsuit could proceed against TD Ameritrade Holding Corp., one of the nation’s largest discount brokerages. In his ruling, the judge cited “serious and credible allegations of securities fraud” stemming from the company’s order routing practices.