One of the leading private advocacy groups in the country is urging investors who lost money in the Charles Schwab YieldPlus funds to opt out of the class action lawsuit so they can file individual arbitration claims. The Wall Street Fraud Watchdog sees no reason why you should accept up to 20 cents on the dollar when you can get back more with an individual claim filed with the Financial Industry Regulatory Authority. The deadline for opting out is Monday, December 28, 2009.
Investors that may qualify as class members acquired Schwab YieldPlus Fund shares between May 31, 2006 and March 17, 2008. In California, residents who held shares from this fund beginning September 1, 2006 also are part of this class action.
Like the Wall Street Fraud Watchdog, our stockbroker fraud lawyers believe it is unfair that investors should get so little back for so much investment. Shepherd Smith Edwards & Kantas LTD LLP represents investors throughout the US who suffered financial losses from investing in Schwab YieldPlus funds. Investors say they were deceived about the risks involved when the funds allegedly were marketed and sold as cash alternatives. Investors also have accused Schwab of leaving out key information in the YieldPlus funds disclosure and registration statements. Schwab denies the allegations.
Even with the holiday season in full swing, now is NOT the time to delay opting out of the class action complaint. You don’t want to give up your right to file a private FINRA arbitration claim. Submit a statement asking that you be excluded from the class-action lawsuit, date and sign your request, and mail by the due date:
Notice Administrator Re: Schwab Corp. Secs. Litigation Exclusions c/o Gilardi & Co. LLC P.O. Box 808061
To find out about filing your individual FINRA arbitration claim, contact our investment fraud law firm and request your free case evaluation.
Related Web Resources:
The Wall Street Watchdog Urges Investors with Schwab Yield Plus to Opt Out of the Class Action Before 12-28-09, PR Web, December 21, 2009
Wall Street Fraud WatchDog