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Short Take: E*Trade ordered to pay damages to investor

After a yearlong legal skirmish, an arbitration panel has ordered E*Trade to pay an investor nearly $61,000 in damages as a result of losses caused by an outage at the online trading site. The National Association of Securities Dealers awarded online investor Ali Khadivi the amount he lost, plus interest and costs, following hearings that showed E*Trade executed a limit order that Khadivi had previously canceled.

After a yearlong legal skirmish, an arbitration panel has ordered E*Trade to pay an investor nearly $61,000 in damages as a result of losses caused by an outage at the online trading site. The National Association of Securities Dealers awarded online investor Ali Khadivi the amount he lost, plus interest and costs, following hearings that showed E*Trade executed a limit order that Khadivi had previously canceled.