Skip to main content

Status: Closed — this petition is no longer accepting signatures.

RYPQX tied up millions of investor's dollars!

RYPQX tied up millions of investor's dollars!

Closed — 56 supporters Verified

Final supporters

S
Someone
C
Chris W.
S
soumen s.
S
Someone
D
Donald R.
D
David A.
D
Darren C.
R
Roger L.
M
Michael K.
R
Ray G.
+46 more
Started by Anonymous 16 years, 2 months ago
As an investor in the Reserve Yield Plus Fund (RYPQX), I was pleased to hear of the recent court order adopting the SEC's distribution plan in the Reserve Primary Fund case. As you know, we (the investors) in the RYPQX Fund are still awaiting distribution of our remaining funds. In addition TD Ameritrade helped make the investors whole to cover the Lehman loss. As our plight is in almost all ways similar to the Reserve Primary Fund, I am hereby requesting for the RYPQX fund a similiar order from the court as in the case of the Reserve Primary Fund. Such an order would give injunctive and other relief and a pro rata distribution of the remaining RYPQX assets as expeditiously as possible. TD Ameritrade was the main force behind the RYPQX marketing to investors as a money market like fund with solid return. RYPQX turned out be nothing but a hoax and its been almost two years that over 4000 investor's money have been tied up by Reserve. TDAM has washed its hand off this deal and points to Reserve as the problem. Investors need accountability from both TDAM and Reserve funds in order to receive 100% of our money invested plus interest and penalty for holding money illegally beyond the sale of the Lehman shares. I appreciate prompt attention to this matter and request an immediate inquiry into the TDAM/Reserved relationship and the hardship to the RYPQX investors.

Updates

June 19, 2010

TD Ameritrade thinks they can simply wash their hands of this disaster and leave us holding the bag. I am spending every waking hour pressuring them to answer for how they marketed this absolute hoax to hard working people. They are hoping we get tired and go away but we are not moving until every cent is returned.

June 19, 2010

The momentum behind this fight proves that we are done waiting for TD Ameritrade and Reserve to hand back what is rightfully ours. These corporations think they can ignore us until we disappear but this surge in support shows they have severely underestimated our resolve.

6 Comments

D
David Ingram
16 years ago Featured

Seriously it is criminal how they just sit on our cash. Just release the funds like they did for the other guys.

R
Robert Patel
16 years ago Featured

I was promised a safe investment for my retirement savings and instead they just locked it all away. Need this fixed now.

K
Kevin Nichols
16 years ago Featured

Two years of excuses is plenty. We deserve our principal and interest back since the Lehman losses were supposedly covered.

S
Sarah Porter
16 years ago Featured

TD Ameritrade totally misled us on this fund. They need to be held accountable for pushing this as a safe money market fund. So frustrating.

L
Linda Rivera
16 years ago Featured

STILL WAITING. RIDICULOUS.

M
Mark Quinn
16 years ago Featured

This has been going on way too long. Give us back our money already.