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TD Ameritrade Data Theft Settlement Preliminarily Approved

This is a settlement for the Internet/Technology lawsuit.

A settlement of a class action suit involving more than 6 million current and former customers of TD Ameritrade Holding Corp., an online brokerage, has received preliminary approval by US District Judge Vaughn Walker in San Francisco.

The suit was initiated over theft of TD Ameritrade client contact information. Ameritrade revealed some but not all of the facts of a data theft in September 2007.

As part of the settlement Ameritrade as committed to providing one year of anti-spam protection for the plaintiffs, and to better protect their customers' data.

According to media reports people who provided the company with email address information before Sept. 14, 2007, could benefit from the lawsuit. The database that was breached included information on 6.2 million people.

A final hearing to approve the settlement is scheduled for September 10, 2009.

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Published on May-12-09


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