Facts

A class action was filed against TD Ameritrade alleging that the company allowed unauthorized third party acquire email addresses of TD Ameritrade's account holders that were then used by spammers to send unsolicited emails. The complaint also alleged identity theft and sought monetary and injunctive relief for the alleged injuries from the data breach.

Class members included all persons who are or were account holders and who provided physical or email addresses to TD Ameritrade Inc. on or before Sept. 14, 2007.

Injuries

Violations of the California Consumer Legal Remedies Act; California Unfair Competition Law; Computer Fraud and Abuse Act; CAN SPAM Act; Nebraska Consumer Protection Act; the Nebraska Uniform Deceptive Trade Practices Act; and breach of fiduciary duty.

Result

TD Ameritrade has agreed to pay a minimum of $2.5 million to a maximum of $6.5 million to settle the matter. A range of compensation for settling class members are detailed in the class action settlement website.