United States Second Circuit

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Rayner v. E*TRADE Financial Corp. , 17‐1487

Affirmed dismissal of a proposed securities class action against E*TRADE. The plaintiff contended that the online brokerage violated state common law in the manner in which it executed trades. E*TRADE moved to dismiss the lawsuit on the ground that the federal Securities Litigation Uniform Standards Act of 1998 precluded the plaintiff from pursuing his state law claims, which essentially alleged securities fraud. The Second Circuit agreed with the online brokerage and affirmed dismissal of the complaint.

Appellate Information

  • Decided
  • Published 2018/07/31


  • Livingston


  • United States Second Circuit