Class-Action Lawsuit Filed Against Schwab and TD Ameritrade

Posted on September 1st, 2023 at 2:13 PM
Class-Action Lawsuit Filed Against Schwab and TD Ameritrade

From the desk of Jim Eccleston at Eccleston Law 

Charles Schwab and TD Ameritrade face a lawsuit for a data breach connected to the ongoing cyberattack targeting the MOVEit file-transfer software.

The lawsuit alleges that Schwab and TD Ameritrade took nine weeks to inform 61,000 Schwab customers about the hack. The Cl0P ransomware gang orchestrated the attack on the MOVEit file transfer system this year. KonBriefing Research has received reports of MOVEit-related breaches from at least 734 organizations, impacting approximately 43 million individuals. According to ThinkAdvisor, the class-action lawsuit against Schwab and TD emerges with less than two weeks remaining before the scheduled transition of TD Ameritrade advisors and their clients' accounts to the Charles Schwab platform.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next

I cannot thank you enough for your efforts. You have proven to be a valuable resource.

Jim T.

LATEST NEWS AND ARTICLES

March 16, 2026
Concorde Investment Services Faces Scrutiny Over Sales of Inspired Healthcare Private Investments

Concorde Investment Services is facing increased scrutiny following the bankruptcy of Inspired Healthcare Capital, whose private investment offerings were widely sold through independent broker dealers, according to InvestmentNews.

March 13, 2026
Connecticut Advisor Pleads Guilty to Ponzi-Like Investment Fraud and Tax Evasion

Federal prosecutors announced that investment adviser John A.

March 12, 2026
Cape Coral Becomes Ground Zero for Private Lending Strains in Post-Pandemic Housing Market

Cape Coral, Florida, long a magnet for out-of-state real estate investors, now illustrates the growing risks of private lending in residential development.