Legal Opinion
Francis Fleming, Jr. v. the Charles Schwab Corp.
Court of Appeals for the Ninth Circuit
Decided December 29, 2017No. 16-15179, 16-15189PublishedCited by 21 opinions
1Opinion of the Court
OPINION
HURWITZ, Circuit Judge:
The issue for decision is whether the Securities Litigation Uniform Standards Act (“SLUSA”), Pub L. 105-353, 112 Stat. 3227, deprived the district court of subject matter jurisdiction over complaints alleging a breach by a securities dealer of the “duty of best execution” in completing trades. The district court dismissed the appellants’ complaints pursuant to SLU-SA. We affirm. .
I. Background
Charles Schwab Corporation is a financial services firm that trades securities for its clients. In 2004, Schwab agreed to route 95% of its “non-directed trades” (trades for…
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3Cited by21 opinions
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