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New deal backed for ID theft case

Posted on May 12, 2009 by Dissent

Virgil Larson of World-Herald News Service reports on the tentative approval of a settlement in the class action lawsuit against TD Ameritrade resulting from a hack in 2006 and 2007 that affected customer contact information on 6.3 million clients.

The settlement will not result in any money for class members but the lawyers get almost $2 million. Indeed, it’s not clear to me that the class members get anything at all out of this settlement. I guess we’ll have to wait and see the actual terms when the deal is approved.

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