Oil Futures Suit Can't Go To Arbitration, TD Clients Say

Law360 (October 30, 2020, 7:03 PM EDT) -- Clients who used TD Ameritrade's trading platform thinkorswim on Thursday told a federal judge in Chicago that their proposed class action over the company's management of oil futures' unprecedented dip below zero in April should not be sent to arbitration because "serious questions" exist about the purported arbitration terms.

In an Oct. 29 brief, plaintiffs Wei Wang and John Lindstrom asked U.S. District Judge Virginia M. Kendall to deny a request to compel their suit to arbitration, which was filed on Oct. 2 by defendants TD Ameritrade Inc. and thinkorswim, also known as TD Ameritrade Futures and Forex LLC.

Claiming that...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!