Mealey's Securities/D&O Liability - 9th Circuit Affirms Dismissal Of UCL, Other Claims As Barred By Securities Law

Mealey's Securities/D&O Liability - 9th Circuit Affirms Dismissal Of UCL, Other Claims As Barred By Securities Law

SAN FRANCISCO - The Ninth Circuit U.S. Court of Appeals on Dec. 29 affirmed a district court's dismissal of claims for violation of California's unfair competition law (UCL) and other claims asserted against a financial services firm in relation to trades it made to a securities company, finding that all the causes of action were barred by the Securities Litigation Uniform Standards Act (SLUSA) (Francis X. Fleming Jr. v. The Charles Schwab Corporation, et al., Nos. 16-15179, 16-15189, 9th Cir., 2017 U.S. App. LEXIS 26982).

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