• Report: #250214

Complaint Review: TD Ameritrade Inc.

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  • Submitted: Thu, May 24, 2007
  • Updated: Thu, May 24, 2007

  • Reported By:Spok Vly Washington
TD Ameritrade Inc.
135 Greene Street Jersey City, New Jersey U.S.A.

TDAmeritrade TD Ameritrade Inc. TD Waterhouse Ripoff TDAmeritrade claimed they lost my communication and paid me $26 a share instead of TEVA stock resulting in a loss to me of over $1000. Jersey City New Jersey

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As you may be aware Teva Pharmeutical has recently merged with Ivax Pharmeutical. I was a holder of 300 shares of Ivax. I received a form from TDWaterhouse (TD Ameritrade) asking whether I wanted cash or stock in the transaction for which I chose to receive Teva stock since it represented a much more profitable transaction and returned the form the same day it was received. Receiving my Teva stock from Scottrade I checked my TDWaterhouse account to discover I had been paid $26 per share cash and received no Teva stock. After numerous phone calls, emails, and written communications I have received no correction of this error the TDWaterhouse/TD Ameritrade representatives are claiming they did not receive my communication for Teva stock. Now with such an important communication one would think that a company that prides itself on customer service would phone or email me or use the message system on the website stating that this communication had not been received, (This transaction was important enough to the reps at Scottrade to contact me 3 times.) but no I am apparently supposed to just accept that they misplaced my paperwork and I have now lost over $1000 on this bungled transaction. Not only have I lost my investment in TEVA but I had to pay income tax on the gain. I have complained to numerous state and federal offices as well as extensively to TD Ameritrade/TD Waterhouse reps. to no avail. Stay far away from TD Ameritrade - some of their reps were downright snotty when I complained and I kept my cool through it all too.

David
Spok Vly, Washington
U.S.A.

This report was posted on Ripoff Report on 05/24/2007 05:32 PM and is a permanent record located here: http://www.ripoffreport.com/r/TD-Ameritrade-Inc/Jersey-City-New-Jersey-07302/TDAmeritrade-TD-Ameritrade-Inc-TD-Waterhouse-Ripoff-TDAmeritrade-claimed-they-lost-my-com-250214. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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