TD Ameritrade Inc
Paid $26 Per Share Cash Instead of Teva Stock After Ivax Merger

As you may be aware Teva Pharmaceutical has recently merged with Ivax Pharmaceutical. 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.

Company: TD Ameritrade Inc
Country: USA
State: New Jersey
City: Jersey City
Address: 135 Greene Street
Phone: 8009344448

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