News about E*trade Financial Corporation

E*trade Financial Corporation

1271 AVENUE OF THE AMERICAS, New York, NY 10019

E*TRADE client's suit accuses brokerage of 'improper practices'

By Dan Harkins | Tuesday, Apr 7, 2015 @ 3:37pm

An E*TRADE client since 2006 is bringing a class-action lawsuit against the brokerage firm, alleging "improper practices." In a lawsuit filed on March 25, Ty Rayner and other parties in the class action sued E*TRADE Financial Corp. and E*TRADE Securities LLC, seeking "redress for E*TRADE’s breach of its duty of 'best execution' when routing a specific type of investment trade for execution on behalf of its customers, known as a 'non-directed, standing limit order,' " the lawsuit said.