Brokerage offering settlement after ID theft - KWWL - Eastern Iowa Breaking News, Weather, Closings

Brokerage offering settlement after ID theft


OMAHA, Neb. (AP) -- Online brokerage TD Ameritrade will offer up to $2,500 to each of the more than 6 million current and former customers affected by the theft of their contact information more than three years ago.

But the proposed settlement, which will cost between $2.5 million and $6.5 million, still must be approved by U.S. District Judge Vaughn Walker in San Francisco.  Last year, Walker rejected an earlier class-action settlement because it didn't do enough to benefit the Ameritrade customers affected.

The Omaha-based company disclosed the breach in September 2007.  Anyone who held an Ameritrade account or provided an e-mail address to the company before then could have been affected by the data theft.

A hearing on the proposed settlement is scheduled for Dec. 23.

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