CClaimWatch
In litigation — no settlement yetfinance

E*TRADE Cash Sweep Program Class Action

Verified October 25, 2026Found via the federal court docketHow ClaimWatch verifies cases

Still being litigated: the claims below are allegations, not findings, and there is no settlement, claim form or payout yet.

Where this case stands

In litigation

The case has been filed and is being fought in court. There is no settlement, no claim form and no payout yet; many class actions are dismissed or never certified.

Pending in the District Court, D. New Jersey (No. 2:24-cv-00603).

  1. February 1, 2024
    Case filed

What happened

A proposed class action against E*TRADE Securities LLC, apparently concerning the E*TRADE and MSSB cash-sweep programs. The docket text indicates the putative class includes E*TRADE customers with cash deposits in those programs from February 1, 2018 to the present. Specific allegations are not detailed in the provided text, but the case appears to involve claims over how cash deposits in sweep accounts were handled.

Do you qualify?

No settlement exists yet, so there is nothing to file and no class definition to check. If the case settles, the settlement will define exactly who qualifies — watch this case and we'll let you know.

How to file

There is no claim to file yet. If this case reaches a settlement, a claim process will open — usually with an official settlement website and a filing deadline.

Common questions

Can I file a claim in the E*TRADE Cash Sweep Program Class Action case?
No. The case is still being litigated — there is no settlement, no claim form, and no payout. It was filed February 1, 2024 in the District Court, D. New Jersey (No. 2:24-cv-00603).What a class action lawsuit is →
Who are the attorneys in the E*TRADE Cash Sweep Program Class Action?
For the plaintiffs: LUKE A. GOVEAS (COUNSEL NOT ADMITTED TO USDC - NJ BAR); ALEXANDER C. COHEN (COUNSEL NOT ADMITTED TO USDC-NJ BAR); PAUL JOHN SCARLATO (ROSCA SCARLATO LLC); MATTHEW L. DAMERON (COUNSEL NOT ADMITTED TO USDC -- NJ BAR). For E*TRADE Securities LLC: CAROLINE STERN (COUNSEL NOT ADMITTED TO USDC-NJ BAR); JONATHAN K. CHANG (COUNSEL NOT ADMITTED TO USDC - NJ BAR); BRIAN WEINSTEIN (COUNSEL NOT ADMITTED TO USDC-NJ BAR); ADAM M. GREENE (COUNSEL NOT ADMITTED TO USDC - NJ BAR). From the public court docket.

Who's involved

Plaintiffs

  • THOMAS SIMMONS(Consolidated Plaintiff)
  • JAMES BERTONIS(Consolidated Plaintiff)
  • NEAL GAGNER(Consolidated Plaintiff)
  • MARK E. MCKINNEY(Consolidated Plaintiff)
  • KENNETH W. LUKE
  • SERGEY BURMIN

Defendants

  • MORGAN STANLEY(Consolidated Defendant)
  • MORGAN STANLEY SMITH BARNEY LLC
  • E*TRADE SECURITIES LLC

Counsel for plaintiffs

Counsel for defendants

Other cases these firms appear in

From the public court docket, contact details as filed; not an endorsement.

Guides:What is a class action lawsuit?How class membership worksYour options as a class member

Summarised from public settlement documents; confirm terms on the official settlement website. ClaimWatch is not a law firm, and filing a claim is free.

More finance settlements

View all →
November 24, 2026finance

Brimmer v. City of Overland Special Deterrent Fees Settlement

Up to $80

February 10, 2027finance

Non-Bank ATM Surcharge Settlement

Settlement Fund will be distributed proportionally (pro rata) to each valid claimant after deductions for attorneys' fees (up to 30%), litigation costs, notice and administration costs, and service awards (up to $17,500 per class representative)

Deadline TBDfinance

CFPB v. Tempoe LLC - Consumer Lease Settlement