Request Legal Help Now - Free


$200M Settlement Proposed in Charles Schwab YieldPlus Class Action

This is a settlement for the Securities/Stock Fraud lawsuit.

New York, NY: The brokerage and investment house Charles Schwab (CS) announced Tuesday that it has signed a memorandum of understanding with plaintiffs to settle a civil class action lawsuit related to the Schwab YieldPlus Fund.

According to the terms of the proposed agreement, CS, without admitting liability, would pay plaintiffs a total of $200 million to settle the federal claims, which include allegations that the company deceived investors about the nature of the short-term investments that lost value when the credit crisis happened.

The plaintiffs had been asking for up to $890 million in damages. The agreement must be approved in court before becoming final.

Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please fill in our form.
Published on Apr-20-10


Fields marked * are mandatory. Please read our comment guidelines before posting.


Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.
*Your Comment:

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.

Request Legal Help Now! - Free