Abada
Abada v. Charles Schwab & Co., Inc.
Opinion
Opinion
Keep, J.
ORDER DENYING MOTION TO REMAND TO STATE COURT
Plaintiff filed the present motion for remand to state court on July 23, 1999. An opposition was filed by Defendant on August 16, 1999. Both parties are represented by counsel.
I. Background
This action arises out of a dispute over public statements made by Charles Schwab & Company, Inc. (hereafter, “Schwab”) regarding Schwab’s on-line brokerage account services and its capacity to handle and execute on-line trades. Plaintiff Aaron Abada asserts five causes of actions against Schwab, individually and on behalf of all others similarly situated, alleging violations of unfair trade practices under California’s Business & Professions Code, Section § 17200 ef seq., violations of false and misleading advertising under California’s Business & Professions Code, Section § 17500 et seq., unjust enrichment, negligent misrepresentation, and fraud and deceit.
Plaintiff alleges that he opened an online securities trading account with Schwab in reliance on Schwab’s representations at its internet site “that Schwab would provide fast, high quality executions.” Plaintiffs Complaint, ¶ 9. Plaintiff further alleges that Schwab made representations in…