Securities Class Action Lawsuit Filed Against Indianapolis RIA and TD Ameritrade

Posted on February 19th, 2018 at 3:11 PM
Securities Class Action Lawsuit Filed Against Indianapolis RIA and TD Ameritrade

From the Desk of Jim Eccleston at Eccleston Law LLC:

An Illinois couple has filed a punitive class action lawsuit against TD Ameritrade and RIA, Sheaff Brock Investment Advisors claiming they lost a significant amount of money in a trading strategy the company said was stable and conservative.

More specifically, according to the complaint, TD Ameritrade was incentivized to refer its customers with Sheaff Brock through its Advisor Direct Program. In turn, Sheaff Brock convinced the Plaintiffs to use a put options income trading strategy that it claimed was low-risk and was a “cash flow sausage factory.”

However, in reality, the “put options strategy” was aggressive, high risk, regularly unsuccessful and generated significant losses. Furthermore, as a result of the strategy, Plaintiffs lost significant amounts of money.

If you were placed in a put option strategy with TD Ameritrade or any other firm, and have suffered losses, you may be able to recover through litigation or through securities arbitration (which offers advantages over litigation including cost savings, speed and efficiency).

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial advisors including Broker Litigation & ArbitrationStrategic Consulting ServicesRegulatory  MattersTransition Contract Review, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

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Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. We will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.


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