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"......Settlement Class Members will not receive a payment...."
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SUMMARY NOTICE OF PROPOSED CLASS ACTION SETTLEMENT
If you are a person, entity, or corporation who is a current U.S. brokerage customer of Schwab or any of its affiliates, including as a customer who previously held accounts at TD Ameritrade (“Ameritrade”), your rights may be affected by a pending class action settlement.
This notice is to alert you to a proposed settlement reached with The Charles Schwab Corporation (“Schwab”) in Jonathan Corrente, et al. v. The Charles Schwab Corporation, No. 4:22-CV-470ALM (E.D. Tex.) and the injunctive relief contemplated in the proposed settlement, specifically, the implementation of an antitrust compliance program. The settlement with Schwab will resolve the claim against it in this action. The United States District Court for the Eastern District of Texas (the “Court”) authorized this notice. The Court appointed the lawyers listed below to represent the Settlement Class:Yavar BathaeeBATHAEE DUNNE LLP
445 Park Avenue, 9th FloorNew York, NY 10022
Tel: (332) 322-8835
[email protected] M. BurkeBURKE LLP
402 West Broadway, Suite 1890San Diego, CA 92101
Tel: (619) [email protected]
Who Is a Member of the Settlement Class?
Subject to certain exceptions, the Settlement Class consists of all persons, entities, and corporations who are current U.S. brokerage customers of Schwab or any of its affiliates, including customers who previously held accounts at Ameritrade.
“Schwab” or “Defendant” means Defendant The Charles Schwab Corporation.
If you are not sure if you are included in the Settlement Class, you can get more information, by visiting or by calling toll-free 888-828-5845 (if calling from outside the United States or Canada, call +1-888-828-5845).What Is This Lawsuit About?
Plaintiffs allege they were injured as a result of the combination of Schwab and TD Ameritrade Holding Corporation, in October 2020. Specifically, Plaintiffs allege that the merger decreased competition among brokers, resulting in Plaintiffs making less money from their trading activity. Plaintiffs assert a claim under federal antitrust law.What Does the Settlement Provide?
To settle the claim in this lawsuit, Schwab has agreed to implement an antitrust compliance program to be designed by a third-party Consultant. This Consultant, to be jointly retained by the Parties, will consist of a team of attorneys from Fried, Frank, Harris Shriver & Jacobson LLP, including Bernard A. Nigro, Jr., Aleksandr Livshits, and Nihal Patel. If the settlement is approved, all Notice Costs, Court-awarded attorney’s fees and litigation expenses, any service awards for the class representatives, and any other expenses approved by the Court will be paid by Schwab.
Settlement Class Members will not receive a payment.What Are My Rights?
If you are a Settlement Class Member and do not object, you will release certain legal rights against Defendant and the other released parties, as explained in the Court’s detailed Notice and the Stipulation and Agreement of Settlement, which are available at If you do want to object to the Settlement you must do so by July 29, 2025. You may object to the Settlement, application for an award of attorney’s fees and litigation expenses, and/or service awards for Plaintiffs. Information on how to object is contained in the Court’s detailed Notice, which is available at No Settlement Class Members’ damages claims are released in this resolution.
When Is the Fairness Hearing?
The Court will hold a fairness hearing at the United States District Court for the Eastern District of Texas, Paul Brown United States Courthouse, 101 East Pecan Street, Sherman, Texas 75090, on August 28, 2025 at 9:00 am CST to consider whether to finally approve the Settlement, award any attorney’s fees and litigation expenses, and order any service awards for Plaintiffs. You or your lawyer may ask to appear and speak at the hearing at your own expense, but you do not have to.
For more information, call toll-free 888-828-5845 (if calling from outside the United States or Canada, call +1-888-828-5845) or visit