Wright

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA San Francisco Division ROBERT WRIGHT, on behalf of himself Case No. 20-cv-05281-LB and all others similarly situated, 12 Plaintiff, ORDER GRANTING IN PART AND DENYING IN PART MOTION TO v. DISMISS 14 CHARLES SCHWAB & CO., INC., Re: ECF No. 39 15 Defendant. 16 INTRODUCTION This is a putative class action challenging an alleged bug in Charles Schwab’s online trading platform for stock transactions. The named plaintiff tried to close a short position in Royal Caribbean stock, but Schwab’s automated system purchased the shares without closing the short position. As a result, the plaintiff lost $10,000. The plaintiff’s relationship with Schwab was governed by Schwab’s brokerage agreement. The plaintiff, individually and on behalf of the putative class, sued Schwab for (1) violations of the unlawful and unfair prongs of California’s Unfair Competition Law (UCL), Cal. Bus. & Prof. Code §…