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Antitrust suit against Schwab and TD Ameritrade merger draws 'stunt' accusations and judge agrees

Franklin Tsung’s company, BlackCrown, filed suit in New York against Schwab and TD, but his decision to do so without a lawyer made it a clear 'stunt,' sources say.

Author Oisin Breen January 3, 2020 at 5:26 PM
Admin:
no description available
Gregory H. Woods: The Court dismisses this action sua sponte [without prompting] without prejudice because Plaintiff BlackCrown Inc. is not represented by counsel.

Peter Giza

Peter Giza

January 3, 2020 — 8:26 PM
Oisin, Respectfully from my vantage point the intent was completely PR value. In line with Ari's statements I can only imagine how irritated the judge must have been. I suspect the damage done will go far beyond any future success or lack there of in the courts if they decide to pursue action against the CS/TD merger. Unfortunately sometimes little thought is given to the affect on reputation when taking legal action especially if it is construed as frivolous or dubious in its intent. Not a great way to start a new year and new decade with negative PR that boomeranged. Pete

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Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

AppCrown, LLC
Outsourcer, CRM Software, Tech: Other
Top Executive: Ted Tsung



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