No. 00-1586.

259 F.3d 154 (2001)

Kenneth E. NEWTON; MLPF & S Cust. FPO, Bruce Zakheim Ira Fbo Bruce Zakheim, v. MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.; Painewebber, Inc. Jeffrey Phillip Kravitz, v. Dean Witter Reynolds, Inc. MLPF & S CUST. FPO, Bruce Zakheim IRA FBO Bruce Zakheim, Jeffrey Phillip Kravitz, Gloria Binder, Appellants.

United States Court of Appeals, Third Circuit.

Filed August 6, 2001.

Attorney(s) appearing for the Case

KAREN L. MORRIS, ESQUIRE (ARGUED) Morris & Morris 1105 North Market Street, Suite 1600 Wilmington, Delaware 19801, Attorney for Appellants.

STEPHEN M. SHAPIRO, ESQUIRE (ARGUED) Mayer, Brown & Platt 190 South LaSalle Street Chicago, Illinois 60603, Attorney for Appellees, Merrill Lynch, Pierce, Fenner & Smith, Inc., PaineWebber, Inc., and Dean Witter Reynolds, Inc.

DAVID A. BROWNLEE, ESQUIRE Kirkpatrick & Lockhart Henry W. Oliver Building 535 Smithfield Street Pittsburgh, Pennsylvania 15222, Attorney for Appellee, Merrill Lynch, Pierce, Fenner & Smith, Inc.

PAUL J. FISHMAN, ESQUIRE Friedman, Kaplan & Seiler One Gateway Center, 25th Floor Newark, New Jersey 07102

ROBERT B. McCAW, ESQUIRE Wilmer, Cutler & Pickering 520 Madison Avenue New York, New York 10022, Attorneys for Appellee, PaineWebber, Inc.

WILLIAM H. PRATT, ESQUIRE Kirkland & Ellis Citigroup Center 153 East 53rd Street New York, New York 10022, Attorney for Appellee, Dean Witter Reynolds, Inc.

KARL A. GROSKAUFMANIS, ESQUIRE Fried, Frank, Harris, Shriver & Jacobson 1001 Pennsylvania Avenue, N.W., Suite 800 Washington, D.C. 20004, Attorney for Amicus Curiae Appellees, Securities Industry Association.



SCIRICA, Circuit Judge.

In this putative class action under § 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, thousands of investors sued their broker-dealers, who traded on the National Association of Securities Dealers Automated Quotation System (NASDAQ), for breaching their duty of best execution. Despite the broker-dealers' duty to execute trades under the most "favorable...

Let's get started

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases