SOURCE: Law Office of David R. Chase, P.A.

July 15, 2008 08:38 ET

Law Office of David R. Chase, P.A. Files Two FINRA Arbitration Claims Against Charles Schwab & Co. Seeking Expedited Hearings for the Benefit of Two Elderly YieldPlus Fund Investors

FORT LAUDERDALE, FL--(Marketwire - July 15, 2008) - The Law Office of David R. Chase, P.A. (the "Firm"), headed by former Securities and Exchange Commission Prosecutor and Special Assistant United States Attorney, David R. Chase, announces that it is has filed two FINRA (Financial Industry Regulatory Authority) arbitration claims against Charles Schwab & Co. ("Schwab") seeking expedited hearings for the benefit of two elderly investors in the YieldPlus Fund Select Shares (NASDAQ: SWYSX) (the "Fund").

The FINRA arbitration claims allege: breach of fiduciary duty, negligence, fraud, breach of contract and negligent supervision as against Schwab. They also allege that Schwab misrepresented and failed to disclose critical information about the Fund including, but not limited to, its safety, risk level and composition of securities.

The arbitration claims collectively seek the recovery of investment losses in excess of $500,000.00, in addition to interest, attorney's fees and punitive damages. They do not name Schwab financial consultants or affiliated registered investment advisors.

The Firm continues investigating investor claims for losses as against Schwab relating to the Fund and the YieldPlus Fund Investor Shares (NASDAQ: SWYPX).

Investors who have suffered substantial losses in the YieldPlus Funds should seriously consider pursuing their own individual arbitration claims as a potentially superior alternative to joining a class action. Unlike a class action, an arbitration claim allows you to: (1) chose your own counsel (only the lead plaintiff has this right in a class action), (2) have your unique facts presented to an arbitration panel, (3) control the decision whether to settle your case and for how much, and (4) generally secure a result within approximately twelve months, as opposed to potentially years with a class action.

The Law Office of David R. Chase, P.A., based in Fort Lauderdale, Florida, has extensive experience representing defrauded investors nationwide in securities litigation matters. The Firm's principal, David R. Chase, is AV-Rated by Martindale-Hubbell, and previously served as Senior Counsel in the Enforcement Division of the Securities and Exchange Commission, and as a Special Assistant United States Attorney in the Economic Crimes Division of the United States Attorney's Office in the Southern District of Florida. More about the firm is available on its website at:

If you, or your customers, suffered losses in the Schwab YieldPlus Funds and wish to discuss your legal rights, please contact:

Contact Information

  • David R. Chase, Esq.
    Law Office of David R. Chase, P.A.
    1700 East Las Olas Boulevard
    Penthouse 2
    Fort Lauderdale, FL 33301
    888-337-8625 (Toll Free)
    Email: Email Contact