ORLANDO (CN) – A federal class action claims Dynetech deceived consumers by selling expensive “CommandTRADE” software as a “precision tool” to trade stocks automatically. “In fact, when used in automatic trading mode, CommandTRADE software makes trades outside the scope of the parameters set by the user of the program, causing significant and unexpected losses,” the class claims.
“Defendants have profited enormously from their sales of CommandTRADE by charging thousands of dollars for a software program that does not function as represented,” the complaint states.
Defendants include WizeTrade Group fka GolbalTec Solutions, a wholly owned subsidiary of Orlando-based Dynetech, and CommandTRADE, a subsidiary of GlobalTec.
Plaintiffs are represented by William Young Jr. with Colling Gilbert & Wright.