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Securities,
Civil Litigation

Aug. 20, 2020

Giant online brokerage sued over alleged trading glitch

The complaint alleged E*Trade did not account for the possibility of negative oil futures on its platform and stuck investors burnt by the system flaw with massive bills caused by them being blocked from trading.

One of the largest online brokerages in the world was hit with a proposed class action over failing to provide accurate pricing information and shutting out users from trading amid an unprecedented crash in the oil futures market.

The complaint alleged E*Trade did not account for the possibility of negative oil futures on its platform and stuck investors burnt by the system flaw with massive bills caused by them being blocked from t...

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