9th Circuit Affirms Charles Schwab Robo-Adviser Suit Precluded By SLUSA

(June 23, 2023, 12:57 PM EDT) -- SAN FRANCISCO — A putative class complaint by Charles Schwab Investment Advisory Inc. and Charles Schwab Corp. (together, Charles Schwab) customers who allege that the use of robo-advisers in the handling of their assets harmed their investments is barred by the Securities Litigation Uniform Standards Act (SLUSA), a Ninth Circuit U.S. Court of Appeals panel ruled, affirming a trial court’s order....