NEW YORK, April 30, 2008 (Lawfuel) — Levi & Korsinsky, LLP
(www.zlk.com) announced that it had filed a class action lawsuit on
behalf of all those who purchased Auction Rate Securities from TD
Ameritrade Holding Corporation (NYSE:AMTD) between March 19, 2003 and
February 13, 2008, inclusive (the “Class” or “Class Period”), to
recover damages caused by TD Ameritrade Holding Corp. and TD
Ameritrade, Inc.’s (collectively “TD Ameritrade”) violation of the
federal securities laws. A copy of the Complaint is available at
www.zlk.com.
The Complaint alleges that TD Ameritrade violated the securities laws
by deceiving investors about the investment characteristics of Auction
Rate Securities and the auction market in which these securities
traded. Auction Rate Securities are either municipal or corporate debt
securities or preferred stocks which pay interest at rates set at
periodic “auctions.” Auction Rate Securities generally have long-term
maturities or no maturity dates.
The Complaint alleges that, pursuant to uniform sales materials and/or
top-down management directives, TD Ameritrade offered and sold Auction
Rate Securities to the public as highly liquid cash-management vehicles
and as suitable alternatives to money market mutual funds. According to
the Complaint, those who now hold Auction Rate Securities sold by TD
Ameritrade cannot liquidate their positions since the auction market
for these securities has collapsed.
If you purchased or otherwise acquired auction rate securities from TD
Ameritrade between March 19, 2003 and February 13, 2008, and continue
to hold such securities, you may, no later than May 19, 2008, request
that the Court appoint you as a named plaintiff in this lawsuit. Your
ability to share in any recovery is not affected by the decision
whether or not to serve as a named plaintiff. You may retain Levi &
Korsinsky, LLP, or other attorneys, to serve as your counsel in this
action.
Levi & Korsinsky, LLP has also filed similar actions against Merrill
Lynch (NYSE:MER), UBS AG (NYSE:UBS); Morgan Stanley (NYSE:MS),
Citigroup (NYSE:C) and SunTrust (NYSE:STI). Copies of the Complaints
are available at www.zlk.com.
Individuals and institutions that purchased Auction Rate Securities
from TD Ameritrade may have legal rights to recover for any damages
incurred. Information about Auction Rate Securities is available at
www.auctionratehelp.com
For further information concerning your legal rights, please contact
Eduard Korsinsky, Esq. or Juan E. Monteverde, Esq. of Levi & Korsinsky,
LLP at 212-363-7500 or via e-mail at info@zlk.com
Levi & Korsinsky, LLP has expertise in prosecuting investor securities
litigation and extensive experience in actions involving financial
fraud. Levi & Korsinsky, LLP represents investors throughout the
nation, concentrating its practice in securities and shareholder
litigation.
