6, 2001, ZiaSun merged with Telescan to form Investools. In January 2005, Investools acquired Prophet Financial Systems, Inc., for $7.9 million in cash. Prophet's founder, Tim Knight, was made the Senior Vice President of Technology. In May 2005, Investools common stock was listed on NASDAQ in May 2006 and added to the Russell 3000, 2000 and Microcap indexes on June 30. In February 2007, Investools company completed the merger with Thinkorswim and its ticker symbol was changed to SWIM. In June 2008, the group adopted the name of its brokerage subsidiary, Thinkorswim, for its corporate identity, changing the listed holding company's name from Investools, Inc., to Thinkorswim Group Inc. At the time of the transaction, Thinkorswim had been a portfolio investment of Technology Crossover Ventures. In May 2008, the company announced that it was cooperating with an informal U.S. Securities and Exchange Commission investigation into presentations used during sales meetings. In January 2009, TD Ameritrade Holdings, Inc., acquired Thinkorswim Group, Inc., (including its INVESTools division) in a cash and stock deal valued around $606 million. In October 2022, Charles Schwab acquired TD Ameritrade Holdings, Inc., along with Thinkorswim Trading Platform., in a deal valued at approximately $26 billion. In January 2023, Charles Schwab announced that Thinkorswim will be available at Schwab later this year. Since then, the platform has undergone a number of upgrades with a focus on backend integration to support Schwab clients. S.E.C. investigation & penalties On December 10, 2009, the U.S. Securities and Exchange Commission began an investigation into Investools' (purchased by thinkorswim) use of misleading sales practices in which two named defendants, Michael J. Drew ("Drew") and Eben D. Miller ("Miller"), were giving trading workshops under the guise of being full-time investors by trade, having made their fortunes in this manner as well as assuring students they would achieve the same results by following the Investools method. Among the allegations by the S.E.C. was that "Investools Did Not Prevent its Speakers from Misleading Investors about a Survey of its Customers' Trading Success." References External links https://www.sec.gov/litigation/litreleases/2009/lr21331.htm "S.E.C. Litigation Release No. 21331 Re: Investools" Toronto-Dominion Bank American companies established in 1999 Financial services companies established in 1999 Electronic trading platforms Online brokerages Financial derivative trading companies 2009 mergers and acquisitions 2006 initial public offerings Companies formerly listed on the Nasdaq