Shareholders Sue Reserve Primary Fund

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Are there any lawsuits vs TDA for their ilegal selling of RYPQX as a moneny market?
Ed Orange

ed orange of MA 8:03PM July 07, 2009

I lost money I had saved... I was told it was safe.. I asked about FDIC and I was told it was safer.

Paul D of FL 3:14PM March 25, 2009

When TD Waterhouse and Ameritrade merged. TD Ameritrade took the money I had in a money market account and moved it to a non interest bearing account without my knowledge. I didn't realize this until I received my quarterly statement. That is 3 months without interest. When I called them and asked them to put the money that was in a money market account back into a money market account they told me that RYPQX is where I should put my money. I explained that I live pay check to pay check and need to make sure that the money is safe and easily accessible. I asked for documentation on this account and they swore up and down that this was like a money market account. And that there was no documentation since this is a new account. I needed to understand this better, since I am a very conservative person with very little money. I was assured that it was the new money market account since they merged. You have my life savings and you can't even provide me with my tax documentation in a timely manner. I require my tax refund to pay my property tax. Shame on you TD Ameritrade. And now I found out that I will not recive any interest on the money that is on hold in the RYPQX if I am even lucky to ever see it. Shame on you TD Ameritrade. You are honestly the worst company in the world. I WANT IN ON THE LAWSUITE.

JLG of CA 11:22PM February 08, 2009

Its been awhile since the last post here. Would someone please direct to where I can become part of the suit. Are there different suits, some better than others? thank you much.

concerned investor of OH 11:47PM February 05, 2009

As of Dec 24 the Reserve informs us that they are going to
appropriate a lot of our money for a "special fund" to finance
the legal costs of all the millionaires who were so careless
with it. Should we have to put up with this? They informed
that future distributions would only be made up to the amount
of the special fund. They still owe us 20% of our money, & we've got no interest on a large sum since mid-Sept. I'd like
to hear from a lawyer on this.

Gertrude of TX 3:23PM December 30, 2008

Hello, Today is Tuesday, Oct 21st and I have been reading the daily Reserve updates. I recently retired and put my life savings in this account because the Ameritrade local FL office highly recommenjded it. She told me it was insured three different ways and it was totally safe. She led me to believe it was a "in house" money mart. NOT a money mart fund. It is obvious that the Reserve is buying time by giving us very little information. The daily updates are a joke. Please!!! If you have any information, send me an email at surattr@bellsouth.net.
Thank you very much and good luck.

Richard Suratt of FL 1:33AM October 21, 2008

I called my invetment advisor at Securities America as soon as I heard the news of Lehman. He assured me the the Primary Reserve Fund had no funds in Lehman. He assured me I was safe. Obviouosly my money is frozen. What recourse do I have?

william smith of PA 6:15PM October 17, 2008

yes i have all of my money in the r gov fund 1 million pluss it 3 generations of
assets. plus 1 million of margin @7%

DAN of OH 12:21AM October 10, 2008

I am furious about all of this. I really don't know how much I will be losing on this, but I would like to know. And I do want to be part of any class action suit against them.

Rebecca Richman of FL 5:48PM October 08, 2008

TD Amertrade sold us a very expensive fund to serve there own interestes only. This fund has a expense ratio of 1.07% with a quarter of it kicked backed to TDA. This is very expensive for a fund of this type. Had that been disclosed, we wouldn't have had over half of our retirement fund in RYPQX.
The prospectus limits ind. investments to 24 months and a 90 day weighted average. The holdings include investments as long as 48 months and the weighted average exceeds 166 days dispite what is published on The Reserves web site. What was TDA doing to earn there commision? What is the SEC doing to assure both TDA and The Reserve is acting within there authority?
The reason we haven't heard about RYPQX is due to these longer term investments. By the time they become due, more investments may become insolvent. TDA should step up and do the right thing for there clients as it was greed and neglegents that got us here.

David M Klein PE of NY 10:52PM October 06, 2008