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Levi & Korsinsky, LLP announces that a class lawsuit has been commenced 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.
The complaint 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.
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