Charles Schwab Yield Plus Fund

We continue to represent clients who acquired shares of the Charles Schwab Yield Plus Fund, otherwise known as the “Fund”, between May 31, 2006 and March 17, 2008 and are eligible to receive a payment from a Charles Schwab Class Action Arbitration Settlement. The defendants in this case (Charles Schwab Investment Management, Inc.) allegedly committed fraud by using false and misleading statements in the registration statements issued by the YieldPlus Fund during the period between May 31, 2006 and March 17, 2008 about the investment profile and objectives of the Fund, according to the class action securities fraud settlement notice.

The defendants violated both federal and state law in registering, marketing, and selling the Fund as a stable bond fund which had “minimal” risk of a fluctuating share price. It was not safe or stable, though, because it was comprised of mortgage-backed securities and corporate finance bonds making the Fund riskier than was represented.

If clients acquired shares of the Charles Schwab YieldPlus Fund, please contact us for a no obligation consultation. You may be eligible for a cash payment from the Charles Schwab Arbitration Class Action settlement.