Where plaintiffs claimed a brokerage service breached its duty of best execution by routing client orders to buy and sell securities to trading venues that paid the service top dollar for its order flow, the dismissal of the complaints for failure to state a claim is affirmed because the claims were precluded by the Securities Litigation Uniform Standards Act of 1998.
Judgment is affirmed.
Zola v. TD Ameritrade, Inc. (MLW No. 71662/Case No. 16-3013 – 10 pages) (U.S. Court of Appeals, 8th Circuit, Wollman, J.) Appealed from U.S. District Court, District of Nebraska (Joel A. Fleming, Boston; Leslie E. Hurst, San Diego, and Andrew S. Love, San Francisco, argued for appellants) (Robert N. Hochman, Chicago, argued for appellee).