Opt-Out Information Available For Schwab YieldPlus Class Action Lawsuit
Investors with significant financial losses in the Charles Schwab YieldPlus Funds face a key deadline to decide whether to stay in the Schwab YieldPlus class-action lawsuit or submit a written request for exclusion and pursue an individual arbitration claim with the Financial Industry Regulatory Authority (FINRA).
If investors do opt for class-action exclusion, their requests must be received by Dec. 28, 2009, at the following address:
Notice Administrator
Re: Schwab Corp. Secs. Litigation Exclusions
c/o Gilardi & Co. LLC
P.O. Box 808061
Petaluma, CA, 94975-8061
In addition, there are several other important steps that investors must follow if they elect to opt out of the Schwab YieldPlus class action lawsuit. They are:
- Investors must provide a written statement requesting exclusion from the Schwab YieldPlus class-action lawsuit;
- Investors must sign and date the request and include their mailing address; and
- Investors must mail the above information by Dec. 28, 2009, to:
Notice Administrator
Re: Schwab Corp. Secs. Litigation Exclusions
c/o Gilardi & Co. LLC
P.O. Box 808061
Petaluma, CA, 94975-8061
Other details and information about the opt-out process are available in a PDF document titled October 12, 2009, Notice of Pendency, on the Website, http://www.hbsslaw.com/files/Notice of Pendency 1012091255373465312.pdf
Investors also will find information about the Schwab YieldPlus class-action lawsuit from the plaintiffs’ counsel Web site www.hbsslaw.com or by calling 1-206-623-7292.
Remember, all requests for exclusion from the YieldPlus class action must be received by Monday, Dec. 28, 2009. After that date, investors will no longer be able to submit an opt-out request.
Tell us about your situation with Schwab YieldPlus Funds by leaving a message in the Comment Box below or via the Contact Us form. We want to advise you on your legal options.
