• Go to page :
  • 1 2
  • Text Only
Voting History
rated:
Got this in my e-mail today, thought it might be useful as I'm sure many have TD Ameritrade accounts.

Settlement ranges from $50 - 2500 based on if your ID was stolen.

See here:
http://www.accountdatasettlement.com/faq.html

Member Summary
Most Recent Posts
How would you know how long your bank takes to fix security problems?

RJG (Mar. 01, 2011 @ 4:05p) |

Good Point.

gatzdon (Mar. 03, 2011 @ 7:48a) |

got a postcard but no compensation just for being a TD ameritrade customer??

vickh (Mar. 03, 2011 @ 11:22a) |

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

Current (preliminarily approved) settlement notice website: www.AccountDataSettlement.com.

Deadlines:
March 15, 2011: Deadline to postmark objections or opt out.
April 7, 2011: Hearing on final approval of settlement. (this is likely to change; officially, the hearing date has been vacated.)
July 6, 2011: Deadline to file a claim.

Original lead plaintiff's blog caringaboutsecurity.wordpress.com.
Thanks for visiting FatWallet.com. Join for free to remove this ad.

I like TD.
Wish they weren't getting sued. I'm probably eligible.

worth my time?

Had a TD Ameritrade account of some kind from 1999 to 2007. Actually suffered identity theft involving new accounts during that time. Wonder what kind of documentation they will require?

Wonder if I'll need to hunt down an account number, too.

Funny they sent me the email today, and when I clicked on the link (above) for the claim form, It isn't available until February 1. It seems they don't want people to remember about it when the claim form actually becomes available.

cows123 said:   Funny they sent me the email today, and when I clicked on the link (above) for the claim form, It isn't available until February 1. It seems they don't want people to remember about it when the claim form actually becomes available.

The claim form should be filed with the claim administrator, not TD. So TD doesn't really have control over when it's available.

how can I tell if I qualify? I've had 2 (linked) accounts with them since back when they were Ameritrade, and then Datek before that (1999)

I'm glad to see Ameritrade getting spanked for this.

The spam was indeed flooding in, on an email address that I only disclosed to ameritrade. Ameritrade denied the problem, trying to claim that they did not leak my email address, that I must have given it to someone else, or someone must have guessed it. It was a very unique unguessable address, so I know it was an internal leak at ameritrade.

They never admitted the problem to me, but they gave me some free trades to get me off their back (it was a nice gesture, but the free trades expired before I used them).

Here's the original thread on the topic at SG

I guess there will be more info after February 1st. But am I reading it right that unless I had experienced identity theft, I'm not eligible to the compensation? They mention spam as well but it doesn't show up as one of the conditions for the compensation.

JimTravel73, as far as digging for the account number, you may have it with your tax papers. This is the first place where I will start looking.

bonghead said:   The spam was indeed flooding in, on an email address that I only disclosed to ameritrade. Ameritrade denied the problem, trying to claim that they did not leak my email address, that I must have given it to someone else, or someone must have guessed it. It was a very unique unguessable address, so I know it was an internal leak at ameritrade.

They never admitted the problem to me, but they gave me some free trades to get me off their back (it was a nice gesture, but the free trades expired before I used them).


Exactly the same here, except I didn't even get the free trades out of them (I did complain to them at the time, multiple times, forwarding copies of the spam). Just wondering, did you come to Ameritrade through their Datek acquisition? I did, and my email addr was initially given to Datek, and my spam to that addr started shortly after the acquisition.

I not only got junk email, but junk US Mail. Of course I immediately discarded both. Does anyone know if they ever caught the scum that stole the data?

Me too. I created an email just for them and they still denied it .. grrr serves them right !

bonghead said:   I'm glad to see Ameritrade getting spanked for this.

The spam was indeed flooding in, on an email address that I only disclosed to ameritrade. Ameritrade denied the problem, trying to claim that they did not leak my email address, that I must have given it to someone else, or someone must have guessed it. It was a very unique unguessable address, so I know it was an internal leak at ameritrade.

They never admitted the problem to me, but they gave me some free trades to get me off their back (it was a nice gesture, but the free trades expired before I used them).

Here's the original thread on the topic at SG

Cool. I'm still angry about the way they treated me. They deducted a minimum balance BS fee from my account. Then they sent me several emails telling me my account was overdrawn, and they were going to sell my stocks and charge me more fees. When I called to complain about the fees, they said they were unable to notify me of the new fee, because they didn't have my email address. When I said that was clearly false, he said the fees are not refundable.

I also got junk e-mails to my TD e-mail. It was also a unique one I used only for them.

sackoloot said:   Cool. I'm still angry about the way they treated me. They deducted a minimum balance BS fee from my account. Then they sent me several emails telling me my account was overdrawn, and they were going to sell my stocks and charge me more fees. When I called to complain about the fees, they said they were unable to notify me of the new fee, because they didn't have my email address. When I said that was clearly false, he said the fees are not refundable.

I won't feel bad getting $50 from TD. They had two of may email addresses on record. I closed one of the email accounts. TD sent me a paper statement, because the email statement bounced and charged a paper statement fee. All this was happening while the second email address was getting flooded with junk from them.

olegos said:    Just wondering, did you come to Ameritrade through their Datek acquisition?
No.. applied direct, I think before Ameritrade had a TD in front of it.

Rem1 said:   how can I tell if I qualify? I've had 2 (linked) accounts with them since back when they were Ameritrade, and then Datek before that (1999)

yeah, i was grandfathered in under Datek as well.

compensated between $50 and $2500? http://www.accountdatasettlement.com/faq.html#Q7

but only if:
"TD Ameritrade will provide compensation to Settlement Class Members who have suffered identity theft"

guess i dont get any $

http://www.fatwallet.com/forums/arcmessageview.php?start=100&cat...

Back in 2007 a lot of people were impacted. A lot of people on FWF e-mailed Ameritrade and received free 1 year of free credit monitoring. You too yurgreat (I just checked and found a post from you on the 2007 thread)!

I'm guessing this should be sufficient to get in on the class action.

I had also received the following e-mail from them inregards to the same case.

NOTICE OF PROPOSED CLASS ACTION SETTLEMENT CLAIM CODE:XXXXX

To All Account Holders Or Prospective Account Holders Who Provided PHYSICAL OR EMAIL ADDRESSES To TD AMERITRADE, Inc. On Or Before September 14, 2007.

Your Rights Might Be Affected By A Class Action Settlement.

Below is a summary of the proposed settlement, including how you can download a free anti-spam Internet security software product.

In re TD AMERITRADE Account Holder Litigation, Case No. C 07 2852 VRW

WHAT THIS SETTLEMENT IS ABOUT: These lawsuits were filed in the U. S. District Court, Northern California District, San Francisco Division, against TD AMERITRADE, Inc., et al. (the "Company" or "Defendant") on behalf of the Settlement Class. The amended consolidated complaint ("Complaint") alleges that an unauthorized third party acquired email addresses of the Company's account holders that were then used by spammers to send unsolicited commercial emails promoting certain stocks. The Complaint seeks monetary and injunctive relief for any alleged injuries arising from the data breach, including alleged receipt of spam and identity theft, if it were to occur. Recovery is sought based upon alleged violation of various state and federal laws and alleged breach of fiduciary duty. The Company denies any liability in the matter. To resolve this matter without the expense and uncertainties of litigation, the Parties have reached a proposed settlement. This settlement is not an admission of wrongdoing by any Party.

If approved, the proposed settlement will provide various benefits to the Settlement Class, including a free one-year subscription or a one-year renewal for an anti-spam Internet security software product; a warning on the Company's Web site concerning stock-touting spam; additional measures to protect the privacy of customer information; an independent consultant to conduct an additional analysis as to whether the personal information of any member of the Settlement Class has been subject to organized misuse relating to identity theft as the result of unauthorized access to certain data; customer assistance and voluntary dispute resolution procedures if instances of organized misuse of information are identified; and general customer support relating to the benefits of the settlement and questions concerning spam and identity theft. The consultant conducted four analyses since August 2007 and found no evidence of identity theft resulting from the data breach. The fourth analysis was completed on June 10, 2008. The Company will also donate $55,000 to two organizations, selected by the Parties, which support protecting the privacy of customer personal information. In return for these benefits, the lawsuits will be dismissed and members of the Settlement Class that do not exclude themselves from this settlement according to the procedures described below will be deemed to have released all claims against the Company relating to the unauthorized acquisition of email addresses and any other customer information and/or the receipt of spam emails, except that settlement class members will not release individual claims, if any, for damages caused by identity theft.

THIS IS ONLY A SUMMARY NOTICE: For more information about the settlement, including details of the release, provisions for attorneys' fees and costs and awards to Class Representatives and other pertinent information, you may obtain a copy of the complete Notice of Proposed Class Action Settlement. You may do so by visiting the settlement Web site: www.StockSpamSettlement.com or by mailing a request for the Notice to: TD AMERITRADE Settlement Administrator, P.O. Box 6177, Novato, CA 94948-6177.

WHO REPRESENTS THE CLASS: The court has appointed KamberEdelson, LLC to represent the Class. You may hire your own attorney if you wish; however, you will be responsible for that attorney's fees and expenses.

FAIRNESS HEARING: A hearing will be held on September 10, 2009 at 2:30 p.m. PT before Chief Judge Vaughn R. Walker in Courtroom 6 of the U.S. District Court, Northern California District, San Francisco Division, 450 Golden Gate Ave., San Francisco, CA 94102, to determine the fairness of the proposed settlement, including the amount of the award to plaintiffs' counsel for costs and attorney's fees. The date for the hearing may be changed without notice. YOU ARE NOT OBLIGATED TO ATTEND THIS HEARING.

TO EXCLUDE YOURSELF FROM THE CLASS OR TO OBJECT TO THE SETTLEMENT: If you are a member of the Settlement Class you have the right to exclude yourself from both the Settlement Class and the settlement by following certain procedures described in the complete Notice, including but not limited to filing a written request for exclusion. If you do not exclude yourself and you wish to object to the settlement you must timely file your objection in writing. Comments and objections must be filed with the Clerk of the U.S. District Court, Northern California District, San Francisco Division, 450 Golden Gate Ave., San Francisco, CA 94102, on or before July 9, 2009. You must follow the other procedures described in the complete Notice.

Upon final approval of the settlement by the court, if you are a member of the Settlement Class and have not validly excluded yourself, your claims against Defendant and its affiliates, their predecessors and successors will be released and you will be entitled to download the free anti-spam Internet security software product. To download this free software, after the final court approval, visit www.StockSpamSettlement.com. At the Web site you will be asked to enter the CLAIM CODE at the top of this email, so KEEP THIS EMAIL until you download your free software product.

For more information, or to obtain a copy of the Settlement Agreement and other documents filed with the court, you can view the court file in the Clerk's Office, visit the settlement Web site: www.StockSpamSettlement.com or contact Class Counsel at 877-377-5281 or stockspamsettlement@kamberedelson.com. Please Do Not Contact The Court Or The Clerk Of The Court Concerning This Notice.

FloorsMat said:   Got this in my e-mail today, thought it might be useful as I'm sure many have TD Ameritrade accounts.

Settlement ranges from $50 - 2500 based on if your ID was stolen.

See here:
http://www.accountdatasettlement.com/faq.html



what determines the amount??

vickh said:   FloorsMat said:   Got this in my e-mail today, thought it might be useful as I'm sure many have TD Ameritrade accounts.

Settlement ranges from $50 - 2500 based on if your ID was stolen.

See here:
http://www.accountdatasettlement.com/faq.html



what determines the amount??


The following is the range of compensation for which a Settlement Class Member may submit a claim. The limits apply to the total amount of a claim that can be submitted by a Settlement Class Member, irrespective of the number of accounts that are involved in the alleged identity theft. For more information on the difference between "existing accounts" and "new accounts," click here.

1. 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.
2. 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
1. $250; or
2. 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
3. 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.

I got a postcard in the mail about this. Same terms/conditions as on the website.

piyush123: YOU POSTED THE WRONG SETTLEMENT NOTICE. That one is years old, and the judge threw it out, after I objected it! The current settlement notice is at www.AccountDataSettlement.com.

I'm trying to get the court to reject this one too, as unfair, unreasonable, and inadequate. See my reasoning at caringaboutsecurity.wordpress.com, and LMK what you think! TD Ameritrade's IT security STILL SUCKS!

BTW, the settlement administrator is paid by TD Ameritrade; I think that means TD does have control over when the forms become available. I complained about this before the notices went out, BTW. But the online form is STILL not available (the paper version is).

Most importantly for all you fatwalleters: It's argued that ALL CLASS MEMBERS can file for the $50 - see here, where we should hear soon. Since everyone's information was compromised, and it's unclear whether that qualifies as “identity theft” as it will be interpreted by the settlement administrator... There's a big conflict of interest: if there are enough claims, the class counsel doesn't get paid! cows123: good nose!

olegos: Wow! The Datek acquisition was in 2002! Do you have copies of that spam? I'll PM you.

I wish it wasn't several days later that I noticed this thread; I wonder if folks are likely to read a post to a thread this old. 3611 Views ATM.

I am eligible but like all class action law suits, I stay away from it.
Not worth my time to see $5-$10 check at the end whereas lawyers will see $Millions...

deallover said:   I am eligible but like all class action law suits, I stay away from it.
Not worth my time to see $5-$10 check at the end whereas lawyers will see $Millions...


Way not to read the settlement notice. Lawyers'll get $ 0.5 million, maximum, if the settlement is approved. $2500 is the max payout... (However, out of pocket expenses are rare, so payouts much over $250 are likely to be rare.)


JimTravel73 said: Had a TD Ameritrade account of some kind from 1999 to 2007. Actually suffered identity theft involving new accounts during that time. Wonder what kind of documentation they will require?
It depends on how much you're claiming.
Give class counsel a call (toll-free: 1-800-331-2782 ) and ask. Let us know what they tell you; please keep a detailed record. What I've been promised and my expectation/understanding is that if you don't have any, you can still file a report with the FTC (online) and submit that report, and that'll be adequate. If you're claiming out of pocket costs, I've no idea what they'll require. A receipt? invoice? affidavit? ('Affidavit' is just a fancy term for a sworn, signed statement.)

My identity was stolen too, 3 times, starting shortly after news of the breach first appeared. When was yours stolen? How many times? Please PM me details if you'd prefer.

Over at the original (long-since closed) thread, I read:

winter said: Whoever is in charge of IT security over there needs to be fired (or perhaps that position doesn't even exist in their org)
Sorry to tell you, but the folks who covered this up have been promoted, and those who tried to address it were fired or pushed out.
No, I'm not kidding or guessing.


I was never able to get free trades or free identity monitoring from TD Ameritrade.

The "behind the scenes" of class action lawsuits that unravels from Elvey's blog is stunning. Very informative to non-lawyers like myself.
Thanks Matthew and good luck!

USrules said:   The "behind the scenes" of class action lawsuits that unravels from Elvey's blog is stunning. Very informative to non-lawyers like myself.
Thanks Matthew and good luck!


Thanks! Yeah, I had no idea what I was getting into, and once in it, found no guidance available online.

I need help from:
Anyone who can volunteer a bit of free time:

in Omaha on February 16,
or
in San Francisco on April 7.

Oh, and FloorsMat: Do you realize that your subject for this thread is wildly inaccurate? It's far from just emails that the data thieves gained unauthorized access to. Are thread subjects editable?

Glad this thread was helpful for some. I updated the title to include ID theft.

Thanks, FloorsMat.

On the claim form, it said: "However, your claim is more likely to be approved if you are able to submit to the Claims Administrator a copy of any ... report to ... the FTC ... stating that account charges were fraudulent due to identity theft"
I interpret this to mean you can file a complaint here, (FTC states: Average time to complete: 10 minutes.) and submit the resulting complaint submission confirmation report.

At the end of the questionnaire, in blue text, it said: Click here for a printable version of your complaint that you can take with you to your local law enforcement office.
I just went through to check for changes and found none; I clicked the blue text and a file, "Affidavit.pdf" was downloaded, which is entitled Identity Theft Victims' Complaint and Affidavit. A copy of this is what the form must be talking about; fhe FTC doesn't solicit any other sort of identity theft document. (See here.) (The FTC processes the complaint report after you fill it out; see here.)

I tried clarifying eligibility for claims by calling the administrator, but it didn't go so well.

I just got the postcard, and was wondering if this was worth my time. Hope you guys can provide some advice.

My situation is I live outside the US, from what I can tell it is only the email address I gave them that was used to spam a whole lot of people. My friends were complaining why my email kept spamming. And since then it was locked after all that crap.

So my question is, do I qualify, what do I probably get, and most importantly, should I? (I'm actually more concerned about the other legal things or strings that might be attached as a result of joining this class action settlement, plus the possible IRS issues considering I'm outside the US).

If your suggestion is not to bother about it, does that mean I should exclude myself or just not do anything?

Thanks.

Just tried to fill out the online form. It looks like you need to have suffered ID theft or have had a credit card stolen, etc. Apparently just having my information stolen isn't enough. Someone needs to have done something with it.

thanks.

I submitted because I've had fraudulent charges on a credit card a few times over the past several years. I don't know if it's related to TD Ameritrade in any way, but their terms stated that this was worth $50.

on the claim form, you have to provide the credit card# , can you use the cancelled cc# or the replaced cc#
can somebody answer this? thanks

joe400 said:   
So my question is, do I qualify, what do I probably get, and most importantly, should I? (I'm actually more concerned about the other legal things or strings that might be attached as a result of joining this class action settlement, plus the possible IRS issues considering I'm outside the US).

If your suggestion is not to bother about it, does that mean I should exclude myself or just not do anything?

Thanks.


If you want to retain the right to sue them in the future, opt out. If you just don't care, do nothing and you give up your rights to sue. The IRS issue is likely irrelevant if this was your only US income and you are not a US citizen. If you are a US citizen, you have to report all your worldwide income anyway, even if it is covered by the foreign income exclusion.

sky101 said:   on the claim form, you have to provide the credit card# , can you use the cancelled cc# or the replaced cc#
can somebody answer this? thanks


I'd say use the # you have handy; you can always explain if they give you grief, which I'd bet won't happen.

atohmc said:   I submitted because I've had fraudulent charges on a credit card a few times over the past several years. I don't know if it's related to TD Ameritrade in any way, but their terms stated that this was worth $50.
Yup, you should get $50... eventually.... if the settlement is approved.

POLL! Who does and doesn't think this is a "fair reasonable and adequate" settlement?

Given that your social security number, etc was discovered by hackers, and TD knew about the breach for 2 YEARS but avoided notifying anyone or closing the security hole, etc, and no one is getting the free trades or ID theft insurance they were offering for those who called about it way back when, as expressed on my blog, I don't. For those who've had their ID stolen and abused already, the payout is reasonable, but the notification sucks, and the security audit is security theatre at its worst.

I just filled out the claim form online.

You will need at a minimum.

=Approximate Date of Fraudulent Use of your account
=Last five digits of compromised account number
=Last five digits of new account that replaced compromised account number

The also ask you to upload your supporting documentation.

I figured only one compromised account is all that's need for the $50 settlement.
I scan and save everything electronically, so I attached the notice from Discover
of the investigation and the notice from Discover concluding the investigation
stating that they are closing the account and issuing a new card.



The verbage on the claim form is confusing, but I believe to be eligible for the
$250 settlement, you need to have evidence that
a NEW card was opened in your name
OR
a non Debit/Credit card was compromised (AKA checking/savings/MMA/etc...)



I imagine most people here may be able to find the last 5 digits of the closed
credit card from an old Transunion Report as they used to list the entire account
number and would indicate which ones were "Lost/Stolen". If you don't have
any of the documentation from the card issuer, I imagine you can upload a copy
of the page from the Credit Report showing the old account Lost/Stolen.

To answer elvey's question, I have yet to see a class action settlement that I
thought was fair. At least these one involves a cash settlement. The ones that
truely appall me are the ones where the victims have real damages, yet the settlement
awards them a coupon and nothing more.

gatzdon:
Indeed, it is confusing.
YOU DO NOT HAVE TO HAVE EVIDENCE THAT A NEW CARD OR NON DEBIT/CREDIT CARD WAS COMPROMISED.
IF ANY KIND OF NEW ACCOUNT WAS OPENED, SUCH AS A NEW CELLPHONE ACCOUNT (using your identity without your authorization), YOU ARE ELIGIBLE FOR THE $250 - EVEN IF YOU DON'T HAVE ALL THE ACCOUNT NUMBERS, THOUGH THEY DO HELP.

Fair... Every judge who approves a settlement, under law, thereby rules that it is "fair, reasonable, and adequate" in the judge's eyes.

What would a fair settlement be? What would you propose?

Skipping 8 Messages...
got a postcard but no compensation just for being a TD ameritrade customer??



Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

TRUSTe online privacy certification

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2014