Schwab Must Face Suit Over Short-Sell Trading Glitch
Melissa Angell, 19 March 2021
A California federal judge ruled Friday that Charles Schwab & Co. must face a proposed class action brought by one of its retail customers challenging an alleged bug in its trading system that prevented the customer from exiting his short position.
U.S. Magistrate Judge Laurel Beeler wrote in her 14-page order that Robert Wright adequately stated a breach of contract claim, finding that factual issues about Schwab’s control of the alleged glitch and Wright’s reaction to the incident preclude dismissal. Continue reading “Article: Schwab Must Face Suit Over Short-Sell Trading Glitch”
