United States Ninth Circuit
McDaniel v. Wells Fargo Investments, LLC, 11-17017
Dismissal of four class action suits challenging the policies of brokerage firms that forbid their employees from opening outside trading accounts, is affirmed, where the district courts correctly determined that the federal Securities Exchange Act, and related self-regulatory organizations rules, preempt the enforcement of California's forced-patronage statute against brokerage houses that forbid their employees from opening outside trading accounts.
Appellate Information
- Decided 04/09/2013
- Published 04/09/2013
Judges
- O’SCANNLAIN
Court
- United States Ninth Circuit