SAN JOSE, Calif. (Legal Newsline) - 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.
The plaintiff seeks a jury trial in pursuit of undisclosed declaratory and injunctive relief.
The plaintiff is represented by Timothy Blood of Blood, Hurst and O'Reardon LLP of San Diego.
U.S. District Court for the Northern District of California-San Jose Division, case no. 5:15-CV-01384