Beckett

MEMORANDUM ***

Plaintiff Guy Beckett appeals the district court’s dismissal of his complaint as preempted by the Securities Litigation Uniform Standards Act of 1998 (SLUSA). We have jurisdiction under 28 U.S.C. § 1291 . We affirm in part and reverse in part, and remand to the district court for further proceedings consistent with this opinion.

I.

Beckett filed a class action complaint against defendant Mellon Investor Services, LLC, alleging as follows: In early March 2003, Beckett sent explicit instructions to Mellon to sell all Washington Mutual shares owned by his mother’s estate, of which Beckett is the personal representative. Mellon did not sell the shares until late March, and even then, it sold the shares on two separate days rather than all at once. Mellon did not pay Beckett the highest available share price for either day; for one transaction, it paid him an amount less than the lowest share price on that day. Additionally, Mellon charged Beckett trading and service fees that it did not previously disclose and to which Beckett never agreed. Beckett’s complaint also alleged that Mellon acted similarly toward other class members.

Beckett’s complaint alleged breach of…