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Class Action Filed Against E*TRADE for Breach of Contract
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Wolf Popper LLP has filed a class action complaint against E*TRADE Securities LLC and its affiliate Morgan Stanley Smith Barney LLC for breach of contract. The lawsuit alleges that the defendants failed to pay a reasonable rate of interest on cash swept from retirement accounts. Wolf Popper LLP is seeking damages and an injunction to stop the unreasonable payment of interest rates.
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How might this case impact investor confidence in E*TRADE?
What are the potential consequences for E*TRADE if the lawsuit is successful?
What measures can E*TRADE take to avoid similar allegations in the future?
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