$5M trading loss suit sent back to DuPage court

By Patricia Manson Law Bulletin staff writer

Posted October 4, 2018 10:46 AM

A lawsuit accusing a broker of causing more than $5 million in losses by failing to timely execute securities trades belongs in state court, a federal judge ruled.In a written opinion this week, U.S. District Judge Andrea R. Wood rejected the argument that the claims against Virtu Americas LLC arise under federal securities laws and, therefore, fall under the jurisdiction of the federal courts.Wood conceded First Trust Advisors L.P.’s dispute with Virtu centers on the broker’s purported failure to complete …

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