Legal News Line Jul. 22, 2016, 1:20pm


SAN FRANCISCO — A Colorado man is suing Charles Schwab, alleging breach of duty.

Robert Crago, filed a class action lawsuit, individually and on behalf of all others similarly situated, July 13 in U.S. District Court for the Northern District of California against The Charles Schwab Corporation, Charles Schwab & Co. Inc., Charles Schwab and Walter Bettinger, II, alleging violation of the Securities Exchange Act.

According to the complaint, Crago has suffered economic loss due to Schwab's orders going unfilled, under-filled, filled at a sub-optimal price, and/or filled in a manner which adversely affects the order’s performance post-execution. 

The plaintiff alleges the defendants failed to comply with the equities order handling agreement and failed to act upon due consideration to its duty to provide the best execution.

Crago seeks a trial by jury and seeks, costs and disbursements, fees for attorneys, experts and accountants, plus such other relief as the court deems just and proper. He is represented by attorneys Adam C. McCall of Levi & Korsinsky LLP in Los Angeles, and Nicholas I. Porritt of Levi & Korsinsky LLP in Washington, D.C..

U.S. District Court for the Northern District of California San Francisco Division Case number 3:16-cv-03938

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U.S. District Court for the Northern District of California
450 Golden Gate Avenue
San Francisco, CA 94102

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