>I wonder how may people will come forward and return money they made because E*Trade was down, couldn't execute their order and things moved their way? That would only be the fair thing to do wouldn't it?
Jon,
No, it seems to me that would NOT be fair. Such money would have been made in spite of E*trade's incompetence.
The key element, it seems to me, is damages. Under the circumstances you described, there would have been no damages to either E*trade or to the customer. Hence, there is no breach of fiduciary duty requiring fair compensation.
On the other hand, had the customer lost money during a down time, then the customer would have definitely suffered damages, and IMO, should be able to recover those from the offending party.
That's my take on it, FWIW.
Ice
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