Posts belonging to Category Charles Schwab
Posted by Page PerryonNovember 9, 2009
A federal court recently certified a class action against Charles Schwab & Company, Inc. brought on behalf of investors in the Schwab YieldPlus Fund. The certification means that the lawsuit can proceed as a class action; no settlement has been reached. Most importantly for YieldPlus investors with significant losses, the deadline to be excluded from […]
Categories: Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Regulatory Developments, Securities, Securities Class Actions, Securities/Commodities Arbitration
Posted by Page PerryonNovember 2, 2009
Investors in Charles Schwab’s YieldPlus Fund need to be aware of their options in light of the recent certification of a class action brought by YieldPlus investors against Schwab. Most importantly, YieldPlus investors who are class members need to request exclusion from the class if they wish to maintain individual claims against Charles Schwab (even […]
Categories: Bonds, Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Regulatory Developments, Securities Class Actions, Securities/Commodities Arbitration
Posted by Page PerryonOctober 20, 2009
The threatened SEC enforcement action against The Charles Schwab Corp. relating to sales of its YieldPlus Fund increases the likelihood that Schwab will need to settle a class action and FINRA arbitrations involving the YieldPlus Fund, according to industry analysts, as reported by Bruce Kelly on October 18 in InvestmentNews. On October 14, Schwab disclosed […]
Categories: Bonds, Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Investment Advisers, Regulatory Developments, Securities Class Actions, Securities/Commodities Arbitration
Posted by Page PerryonOctober 13, 2009
Investors in Charles Schwab’s YieldPlus Fund have important decisions to make. Recently, a California Federal court tentatively certified a class action brought by YieldPlus investors against Schwab. YieldPlus investors need to determine (i) whether they are members of one or more of the designated classes, (ii) if so, whether they wish to remain in the […]
Categories: Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Securities Class Actions, Securities/Commodities Arbitration
Posted by Page PerryonOctober 12, 2009
Citigroup Global Market, Inc. has filed a motion to dismiss an action against it by KV Pharmaceuticals Co. arising out of sales of auction rate securities, according to an August 25 article in Law360 by Christine Caufield entitled “Citigroup Argues KV Pharma Knew ARS Risks.” The case is pending in the United States District Court […]
Categories: Auction Rate Securities, Bonds, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Common Securities Broker Abuses, Securities/Commodities Litigation
Posted by Page PerryonOctober 1, 2009
A Los Angeles based Financial Industry Regulatory Authority (FINRA) arbitration panel awarded damages to a California resident as a result of losses sustained in the Charles Schwab YieldPlus Fund. The panel awarded the Eliots $80,000, plus an additional $16,000 designated as expert witness fees, plus $300.00 as reimbursement for the non-refundable portion of the initial […]
Categories: Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Securities/Commodities Arbitration
Posted by Page PerryonSeptember 16, 2009
A Los Angeles based Financial Industry Regulatory Authority (FINRA) arbitration panel awarded market adjusted damages to a California resident as a result of losses sustained in the Charles Schwab YieldPlus Fund. The panel awarded Victor Chang 100 percent of his market-adjusted damages of $74,745.00, plus an additional $13,500.00 designated as expert witness fees, plus $225.00 […]
Categories: Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Securities/Commodities Arbitration
Posted by Page PerryonSeptember 10, 2009
A Nevada based Financial Industry Regulatory Authority (FINRA) arbitration panel awarded damages to a Nevada couple as a result of losses sustained in the Charles Schwab YieldPlus Fund. The panel awarded the Raymond and Elsie Kelly 100 percent of their net out of pocket losses of $74,430.77 plus interest at the rate of 3.25% per […]
Categories: Bonds, Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Securities Class Actions, Securities/Commodities Arbitration
Posted by Page PerryonAugust 26, 2009
Charles Schwab’s recent article in the Wall Street Journal, entitled “Brokers Aren’t Responsible for Bad Bets,” is a cynical attempt to change the subject that compares very unfavorably with the intellectual honesty of Warren Buffet, according to Susan Antilla in her August 21 article in Bloomberg.com. Mr. Schwab’s article was in response to a lawsuit […]
Categories: Auction Rate Securities, Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Investment Advisers, Regulatory Developments, Securities/Commodities Litigation
Posted by Page PerryonAugust 7, 2009
Investors are leaving big, full service firms like Morgan Stanley Smith Barney and Bank of American Merrill Lynch, and investing their money through online discount firms like Schwab and TD Ameritrade, according to a recent CNBC.com article called “Investors Dump Brokers to Go It Alone.” This has been happening for some time now, but the […]
Categories: Bank of America, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Common Securities Broker Abuses, Investment Advisers, Market Developments, Merrill Lynch, Morgan Stanley, Securities/Commodities Arbitration, Securities/Commodities Litigation