Aidikoff, Uhl & Bakhtiari: Charles Schwab Found Liable in YieldPlus FINRA Arbitration - SCHW, SWYSX, SWYPX

• Press Release
• Source: Aidikoff, Uhl & Bakhtiari
• On 10:00 am EDT, Monday October 5, 2009

BEVERLY HILLS, Calif., Oct. 5, 2009 (GLOBE NEWSWIRE) -- A Los Angeles based Financial Industry Regulatory Authority (FINRA) arbitration panel awarded damages to the Chang family who invested in the Charles Schwab YieldPlus fund. The panel awarded the Chang claimants 100 percent of their losses plus what they would have earned had their money been properly invested. The panel also awarded expert witness costs and assessed the entire cost of the arbitration proceeding against Charles Schwab (Nasdaq:SCHW - News).

Related Quotes

Symbol	Price	Change
SCHW	18.20	-0.05

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"Although Charles Schwab recommended the purchase of the Schwab YieldPlus Fund Select Shares (Nasdaq:SWYSX - News) and the Schwab YieldPlus Investor Shares (Nasdaq:SWYPX - News) (the "YieldPlus Funds") as safe conservative cash alternatives to investors, the evidence established that the YieldPlus funds were over concentrated in mortgage backed securities," said attorney Ryan K. Bakhtiari.

The portfolio manager of the YieldPlus fund sold 2.9 million shares of the YieldPlus fund between January 31, 2008, and April 1, 2008, on behalf of certain Schwab Target retirement mutual funds that held YieldPlus. At the same time, Charles Schwab encouraged investors to hold YieldPlus and expressed confidence in the fund.

"We are continuing to pursue FINRA arbitrations claims on behalf of investors who suffered losses in the YieldPlus Funds," added attorney Philip M. Aidikoff. "Investors should be aware of the pending class action and of their right to pursue individual claims outside of the class action. Investors need to be aware of the consequences of pursuing a specific remedy and course of action."

More information is available at http://www.subprimelosses.com/charles-schwab.php or by contacting an attorney below.

Aidikoff, Uhl & Bakhtiari
Beverly Hills, California
Ryan K. Bakhtiari
(800) 382-7969
rbakhtiari@aol.com 
Maddox, Hargett & Caruso, P.C.
Indianapolis, Indiana; New York, New York
Thomas A. Hargett
(800) 505-5515
tahargett@mhclaw.com 
Page Perry, LLC
Atlanta, Georgia
J. Boyd Page
(877) 673-0047
jbpage@pageperry.com 
David P. Meyer & Associates, Co., L.P.A.
Columbus, Ohio
David P. Meyer
(866) 827-6537
dmeyer@dmlaws.com