Securities Arbitration Lawyer Blog
A FINRA arbitrator in Jackson, Mississippi, has found E*Trade Securities LLC liable for failing to execute a trade properly and ordered the online brokerage firm to pay its customer over $31,000 (the “Award”).
According to the Award, the customer, Mr. David White, filed a claim against E*Trade in early February 2021, alleging that the firm failed to execute his order at the original limit price, not the higher trading price that the option was priced at the time.
E*Trade was also ordered to pay interest on the $31,150 in compensatory damages at a rate of 8% per annum from January 27, 2021, until the date of payment of the Award.