If you are or were an account holder of or a prospective account holder and who provided physical or email addresses to TD Ameritrade, Inc. on or before September 14, 2007, your rights may be affected by a class action settlement.
A class action settlement has been reached in a class action lawsuit pending against TD Ameritrade, Inc. (“TD Ameritrade” or “Defendant”) in the United States District Court for the Northern District of California (styled In re TD Ameritrade Account Holder Litigation, Class Action Case No. C 07 2852 VRW) alleging, among other things, that an unauthorized third party acquired email addresses of TD Ameritrade’s account holders that were then used by spammers to send unsolicited commercial emails promoting certain stocks, according to the TD Ameritrade data breach email spam and identity theft class action lawsuit settlement notice.
The TD Ameritrade data breach class action lawsuit complaint reportedly sought monetary and injunctive relief for any alleged injuries arising from the alleged TD Ameritrade data breach, including alleged receipt of spam and identity theft, if it were to occur, based upon purported violations of the California Consumer Legal Remedies Act (“CLRA”) (Cal. Civ. Code § 1782(a)), the California Unfair Competition Law (“UCL”) (Cal. Bus. & Prof. Code § 17203), the Computer Fraud and Abuse Act (18 U.S.C. § 1030), the CAN SPAM Act (15 U.S.C. § 7706(g)), the Nebraska Consumer Protection Act (NRS § 59-1602), and the Nebraska Uniform Deceptive Trade Practices Act (NRS § 87-302) and for alleged breach of fiduciary duty.
The TD Ameritrade data breach email spam and identity theft class action lawsuit settlement class reportedly includes the following persons, unless otherwise excluded:
All persons who are or were account holders of or prospective account holders and who provided physical or email addresses to TD Ameritrade, Inc. on or before September 14, 2007 (the “Settlement Class”).
The TD Ameritrade data breach email spam and identity theft class action lawsuit settlement reportedly provides that TD Ameritrade will pay a minimum of $2.5 million and a maximum of $6.5 million according to the terms of the Settlement Agreement.
To be eligible for compensation, a Settlement Class Member must reportedly provide the information and documentation required in the Claim Form that is attached to the TD Ameritrade class action lawsuit settlement notice, available on the class action settlement website www.AccountDataSettlement.com or by calling a toll free number 1-888-749-8173.
The following is the range of compensation for which a Settlement Class Member reportedly may submit a claim:
a)If the only identity theft experienced by a Settlement Class Member involves an Existing Credit or Debit Card Account, the Settlement Class Member can claim $50.
b) If a Settlement Class Member experiences identity theft involving a New Account or Existing Account other than an Existing Credit or Debit Card Account, the Settlement Class Member can claim (i) $250; or (ii) any amount up to $1,000 (inclusive of the $250 minimum payment) if and to the extent the Settlement Class Member has incurred and is also claiming out-of-pocket expenses; or (iii) any amount up to $2,500 (inclusive of the $250 minimum payment and out-of-pocket expenses of up to $1,000) if and to the extent the Settlement Class Member has incurred and is claiming unreimbursed losses on the account(s) involved in the identity theft.
c) Out-of-pocket expenses include costs such as telephone charges, copying, postage charges or other charges incurred in closing or correcting an account that was opened or affected as a result of identity theft. Unreimbursed losses include charges that a Settlement Class Member was obligated to pay on New Accounts or Existing Accounts other than Existing Credit or Debit Card Accounts as a result of identity theft and that the creditor refused to refund or waive after being notified by the Settlement Class Member that the charges were due to identity theft.
“Existing Account” reportedly means an account opened by a Settlement Class Member before the Settlement Class Member suffered identity theft involving that account. “Existing Credit or Debit Card Account” reportedly means a credit or debit account opened by a Settlement Class Member before the Settlement Class Member suffered identity theft involving that account. “New Account” reportedly means an account opened by an unauthorized person as a result of identity theft, using the Settlement Class Member’s identity.
A TD Ameritrade data breach class action settlement hearing will take place on April 7, 2011 at the United States District Court for the Northern District of California, San Francisco Division, 450 Golden Gate Ave., San Francisco, California 94102.
For more information about the TD Ameritrade data breach email spam and identity theft class action lawsuit settlement, including information about how to participate in, be excluded from or opt out of or object to the TD Ameritrade data breach class action settlement (and the deadlines for doing so), visit the TD Ameritrade data breach email spam and identity theft class action settlement website:
www.AccountDataSettlement.com
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