In May 2020, Kaskela Law filed a stockholder class action complaint on behalf of former TD Ameritrade Holding Corp. (“TD Ameritrade”) stockholders following The Charles Schwab Corporation’s (“Schwab”) 2020 stock-for-stock acquisition of TD Ameritrade.  Hawkes v. The Toronto-Dominion Bank, et al., C.A. 2020-0360-PAF (Del. Ch.).

Among other things, the complaint alleges that TD Ameritrade’s directors breached their fiduciary duties in connection with Schwab’s acquisition of TD Ameritrade, and sought to recover additional compensation for the former TD Ameritrade stockholders whose shares were acquired by Schwab.

In September 2022, the Court approved of a proposed settlement of the action for $31.5 million.