Charles Schwab and TD Waterhouse have decided to end their spat over misleading advertising.

Schwab filed a lawsuit against the rival discount in a San Francisco County Superior Court in March, alleging that TD Waterhouse advertising was "deceptive, misleading and patently false."

In an agreement announced on Wednesday, TD Waterhouse will stop advertisements portraying Schwab as similar to Merrill Lynch and other full commission, "higher priced" brokerages.

Schwab filed the suit after TD Waterhouse reneged on a previous agreement where TD Waterhouse said it would "stop its false claims and disparaging descriptions of Schwab, but instead ran the misleading ad at least 28 additional times in violation of the agreement," Schwab officials stated in an earlier release.  

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