Pendency Notice Issued In Schwab YieldPlus Class Action
A U.S. District Court in San Francisco has issued a Notice of Pendency to all class members involved in the Charles Schwab YieldPlus litigation. Specifically, the notice includes details and information about the Charles Schwab YieldPlus class-action lawsuit, as well as instructions for investors who wish to opt out as a class member.
Individuals who elect to opt out must do so by contacting Gilardi & Co. LLC in writing by Monday, Dec. 28, 2009. All opt-out requests should be mailed to:
In re Schwab Corp. Secs. Litigation Exclusions
c/o Gilardi & Co. LLC
PO Box 808061
Petaluma, CA 94975-8061
In the recent Pendency Notice issued Oct. 12, three certified classes of investors are listed. They include: All persons or entities who acquired shares of the fund from Nov. 15, 2006, through March 17, 2008, and is traceable to a false and misleading registration statement and were damaged; all persons or entities who acquired shares of the fund from May 31, 2006, through March 17, 2008, and is traceable to a false and misleading prospectus for the fund; and all California resident investors who held shares of the YieldPlus Fund on Sept. 1, 2006.
All Schwab YieldPlus members who meet the above criteria will be included in the class action lawsuit unless they formally request exclusion (i.e., opt out of the class action) by Dec. 28, 2009.
The Schwab YieldPlus Pendency Notice can be viewed in its entirety at www.hbsslaw.com/schw. Investors also may contact the Notice Administrator directly at (888) 955-2703 for additional information about the Schwab YieldPlus Class Action.
If you suffered losses in the Schwab YieldPlus Funds and have questions regarding how to opt out of the class action and file your own individual arbitration claim with the Financial Industry Regulatory Authority (FINRA), please contact us at 866-827-6537.
Tell us about your situation with Schwab YieldPlus by leaving a message in the Comment Box below or via the Contact Us form. We want to counsel you on your options.
