Legal Opinion
Ongstad v. Piper Jaffray & Co.
North Dakota Supreme Court
Decided September 8, 2008No. 20070260Published
1Opinion of the Court
SANDSTROM, Justice.
[¶ 1] Astrid Ongstad, individually and as trustee of the Ongstad Family Trust, appeals from a district court order amending a prior order and decertifying the class in Ongstad’s action against Piper Jaffray & Co. (“Piper Jaffray”). We affirm, concluding Ongstad’s attempted class action against Piper Jaffray on state law claims is preempted by the Securities Litigation Uniform Standards Act of 1998 (“SLU-SA”).
I
[¶ 2] Ongstad had an individual brokerage account with Piper Jaffray. She also served as trustee of the Ongstad Family Trust, which had a separate brokerage account…
2Cases cited14 opinions
- Medtronic, Inc. v. LohrSupreme Court of the United States · 1996
- Merrill Lynch, Pierce, Fenner & Smith Inc. v. DabitSupreme Court of the United States · 2006
- In Re Advanta Corp. Securities LitigationCourt of Appeals for the Third Circuit · 1999
- Louis S. Caiola v. Citibank, N.A., New YorkCourt of Appeals for the Second Circuit · 2002
- Ryan Rowinski, on Behalf of Himself and All Others Similarly Situated v. Salomon Smith Barney Inc., Ryan RowinskiCourt of Appeals for the Third Circuit · 2005
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