TD Ameritrade refuses JANA, SAC document request

By Devika Patel

Knoxville, Tenn., July 6 - TD Ameritrade Holding Corp. will not allow JANA Master Fund, Ltd. and SAC Capital Associates, LLC to inspect the company's books and records, according to a Securities and Exchange Commission report on a Form 8-K filed by the company on Friday.

As previously reported, the funds managed by JANA and SAC requested the documents, claiming that conflicts of interest on TD Ameritrade's board, specifically with the company's largest shareholder, Toronto-Dominion, were preventing the corporation from exploring opportunities.

The report stated that TD Ameritrade will not hand over any of the requested documents because the company believes that the demand does not comply with the requirements of Delaware law.

TD Ameritrade is an Omaha securities brokerage services and technology-based financial services company.

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