163808P.pdf   01/09/2018  Nicholas Lewis  v.  Scottrade, Inc.
   U.S. Court of Appeals Case No:  16-3808
   U.S. District Court for the Eastern District of Missouri - St. Louis   
   [PUBLISHED] [Loken, Author, with Arnold and Shepherd, Circuit Judges] 
   Civil case - Securities Litigation Uniform Standards Act. In class action 
   alleging defendant routed customer limit orders for the purchase and sale 
   of securities to trading venues that pay "rebates" to sending brokers, 
   thereby violating its "duty of best execution" in buying and selling 
   securities on behalf of its customers, the district court did not err in 
   concluding the claims are precluded by the Securities Litigation Uniform 
   Standards Act, 15 U.S.C. Sec 78bb(f)(1); fraud or deception in trading 
   that violates a broker's duty of best execution is misconduct "in 
   connection with" the purchase and sale of covered securities to which the 
   Act applies; fairly read, the allegations in the complaint allege material 
   misrepresentations or omissions, or the use of a manipulative or deceptive 
   device or contrivance, in connection with the purchase and sale or covered 
   securities, and the claims are precluded by the Act.