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Elvey v. Ameritrade

Topic(s): Class Actions – Objections to Proposed Settlements
Date Of Involvement: 09/02/2008

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Description:

Public Citizen represented plaintiff Matthew Elvey in a class action against TD Ameritrade over a massive security breach that exposed private customer data, including social security numbers, to hackers. Elvey objected to the terms of a proposed class settlement, which would have released claims against the company without requiring it to properly notify its clients of the problem or adopt suitable remedies. The court agreed with Public Citizen’s arguments and rejected the proposed settlement. The court later granted approval to an improved settlement that included monetary relief to members of the class.