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E*TRADE Financial Corporation

Securities Class Action

Overview
  • Date:
  • 7/26/2016
  • Company Name:
  • E*TRADE Financial Corporation
  • Class Period:
  • FROM 7/12/2011 TO 7/12/2016
  • Status:
  • Closed/Complete
  • Court:
  • U.S. District Court: Southern District of New York

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NEW YORK, July 26, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of clients of E*TRADE Financial Corporation during the period between July 12, 2011 and July 12, 2016.

There are no impacted securities for this class action. This is a securities class action on behalf of all clients of E*TRADE between July 12, 2011 and July 12, 2016 who placed trade orders that were routed in self-interested manner at the expense of its customers best interests and inconsistent with the duty of best execution.

The lawsuit charges E*TRADE Financial Corporation, its subsidiary E*TRADE Securities LLC, its CEO, Paul T. Idzik, and its Senior Vice President of Retail Services, David Herbert, with violations of the Securities Exchange Act of 1934. E*TRADE provides online brokerage services to retail investors, and the Complaint alleges that Defendants made materially false and misleading statements and/or omitted adverse facts about its routing practices for its clients’ orders.

If you were a client of E*TRADE Financial Corporation between July 12, 2011 and July 12, 2016, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.

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