May 26, 2005 |
Discount brokerage TD Waterhouse Group Inc. on Wednesday apologized to rival Charles Schwab Corp. and said it would stop running a series of TV advertisements that Schwab called unfair and misleading. The steps, announced in a brief joint statement, came as part of a settlement of a lawsuit by San Francisco-based Schwab alleging that the ads unfairly linked its pricing and commission structure with full-commission brokerage firms.
March 15, 2005 |
Discount brokerage pioneer Charles Schwab Corp. sued the TD Waterhouse Group Inc. on Monday, alleging that its rival's advertisements falsely labeled Schwab as a high-priced firm with inferior service. The trade libel complaint filed in state court underscores Schwab's determination to reclaim its reputation as a bargain brokerage.
January 21, 2004 |
Two of the biggest online brokerages, E-Trade Financial Corp. and TD Waterhouse, said they had ended talks about combining their operations. "Both companies agree that while there were potential benefits to concluding a transaction that merited serious discussion, they were unable to arrive at mutually agreeable terms," the companies said in a news release Sunday. The companies confirmed last week that they were talking about a possible combination.
January 14, 2004 |
A combination of the online operations would form the second-largest U.S. discount broker, analysts say. In what could be the final stage of its long hunt for a U.S. partner, Toronto-Dominion Bank said Tuesday that it was in talks to merge its U.S.-based TD Waterhouse online brokerage with discount rival E-Trade Financial Corp.
October 11, 2001 |
Toronto-Dominion Bank offered Wednesday to buy the 12% of No. 2 discount brokerage TD Waterhouse Group Inc. that it doesn't already own for about $409 million. The bank also said it will fire 200 employees at its securities arm, resulting in a $102-million pretax charge in its fiscal fourth quarter ending Oct. 31. Toronto-Dominion (TD), Canada's No. 2 bank, would pay $9 a share for each share of TD Waterhouse, 45% more than Tuesday's closing price of $6.20.
October 13, 1999 |
TD Waterhouse Group Inc., which last week pulled out of a deal to invest $25 million in an alternative stock-trading system known as Island, said Tuesday it would invest in REDIbook, an Island rival. The No. 3 U.S. Internet brokerage firm chose REDIbook over Island because it was impressed with the investors behind the firm, said John Chapel, president of Waterhouse's U.S. brokerage operations. Other REDIbook investors include Charles Schwab Corp.