Brokerage clients who sought to unwind the Charles Schwab-TD Ameritrade merger on antitrust grounds have reached a “settlement in precept” with the monetary companies behemoth.
In a standing replace filed with the U.S. District Court docket for the Jap District of Texas final week, Schwab and plaintiffs within the case, Jonathan Corrente et al. v. The Charles Schwab Corp., instructed the decide that negotiators have signed a time period sheet masking the proposed settlement.
They’ve been negotiating with help from a court-appointed mediator.
“Whereas work stays to be carried out, together with the drafting of a stipulation of settlement, and hiring a settlement administrator and devising a discover plan, the events anticipate that Plaintiffs will be capable to transfer for preliminary approval no later than November 21, 2024,” the standing report says.
