E*trade Forced To Add New Director To Settle Shareholder Lawsuit

Online trading company, E*Trade faces a change in its board of directors. E*Trade has been faced with a shareholder lawsuit involving gross management and breach of fiduciary duty in its board of directors based in part for their loan forgiveness.

The following questions have been addressed in this article:

What is E*Trade?
What is the background of this lawsuit?
What were the charges in the lawsuit?
What changes will occur under the settlement agreement?
What effect will this lawsuit have?

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