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Better Business Bureau does nothing to resolve issue
Chronology of Court Case Against TD Ameritrade
Chronology of FINRA Arbitration Case Against TD Ameritrade
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Laurent J. LaBrie v. TDAmeritrade 
FINRA Claim 11-03725
The brief essentials of the case
Laurent La Brie held an individual account with TD Ameritrade.
On October 27, 2008, La Brie contracted with TD Ameritrade to sell 800 shares of UDR, Inc., (NYSE stock symbol UDR) on or before January 16, 2009 (See Purchase Confirmation dated 10/27/08 for UDRME option .)
La Brie, sold the shares with the obligation to buy them back later. (See Transaction Confirmation # 04594471136 for short sale on 1/16/09 .) This is called a "short" sale.
TD Ameritrade bought the shares on behalf of TD Ameritrade Clearing (both TD Ameritrade and TD Ameritrade Clearing are wholely owned subsidiaries of TD Ameritrade Holdings.)
Since documentation shows that TD Ameritrade Clearing did not pass the shares on to another buyer, they held the shares, expecting the price to go up so that they would make money. On the other side of the trade, I had sold the stock to them, so if the stock went down in price, I made money.
On March 17, 2009 I bought 800 shares of UDR at $7.40. (See Transaction Confirmation #04769636054 for purchase on 3/17/09.) I had made a profit of $8,000 and TDA had a $8,000 loss on their books.
So, instead of giving me the money, they reversed the trades. That means that they pretended like the trades never happened. Suddenly, they moved the loss from their books to my account. Additionally, they said that my options for which I paid $7,900 expired worthless. So, my total loss was over $15,000.
Money that was rightfully mine to pay for my girls' education was now stolen from me.
But, don't take my word for it, see what TD Ameritrade has to say. For all the details and statements from both sides, click on the links on the left.
Better Business Bureau does nothing to resolve issue
Chronology of Court Case Against TD Ameritrade
Chronology of FINRA Arbitration Case Against TD Ameritrade
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