Posts belonging to Category Securities Class Actions



Investors Are Winning Cases Against Wall Street Banks

 

On April 8, 2010, the Wall Street Journal ran an article under the headline “Banks Winning When Investors Sue.” However, that article only told part of the story. According to Craig T. Jones, a lawyer who represents investors at the Atlanta law firm of Page Perry, “the Journal article was focused on lawsuits filed in […]

The Beat Goes On – Schwab Loses Another Schwab YieldPlus Case

 

A Financial Industry Regulatory Authority (FINRA) arbitrator awarded damages to Mr. Weigel as a result of losses sustained in the Schwab YieldPlus Fund. The panel awarded the Mr. Weigel $19,400 in a claim submitted under FINRA’s special “simplified” procedure for claims of $25,000 or less (exclusive of interest and costs). Mr. Weigel’s actual trading loss […]

Less Than 15 Days are Left for Schwab YieldPlus Investors to Preserve their Rights

 

Time is running out for Schwab YieldPlus investors to opt out of the class action. A properly completed Request for Exclusion must be received by the class action administrator no later than December 28, 2009. With the holidays, the time to do that is running very short.

Only 40 Days Left for Schwab YieldPlus Investors to Preserve their Rights

 

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 […]

Medical Capital Holdings Alert – Investors Face Tremendous Losses

 

The Receiver for Medical Capital Holdings Inc. issued his Third Report on October 9, 2009. The most recent report did contain some additional information but was, in most part, a recap of what was included in the Second Report. The reports can be found at http://www.medicalcapitalreceivership.com. Nothing in the Third Report indicates any greater likelihood […]

Time is Running Out on Schwab YieldPlus Investors who Want to Opt Out of the Class Action

 

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 […]

Have You Lost Money in ETF’s?

 

There has recently been a spate of litigation and regulatory activity surrounding exchange-traded funds (ETF’s), particularly leveraged or inverse ETF’s. Both the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have issued warnings that leveraged and inverse exchange ETF’s are not suitable for most retail investors, and at least one state […]

Schwab YieldPlus Investors Should Consider Their Options

 

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 […]

Arbitration or Class Action – Which is Better for Investors?

 

A federal judge in Atlanta recently dismissed a class action lawsuit brought against SunTrust for fraud in the sale of auction rate securities. The case was not dismissed on the merits of investors’ claims against SunTrust, but based on technical legal requirements about what it takes to plead a claim. Those requirements are strict in […]

SEC Threatens Action Over Schwab YieldPlus Fund

 

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 […]