SOURCE: Klayman & Toskes

October 15, 2009 13:28 ET

Notice to YieldPlus Fund Investors: Deadline to Opt-Out of the Schwab YieldPlus Class Action Is December 28, 2009

NEWPORT BEACH, CA--(Marketwire - October 15, 2009) - The Securities Law Firm of Klayman & Toskes, P.A. ("K&T") (http://www.nasd-law.com), representing numerous aggrieved investors throughout the nation, advises all Charles Schwab (NASDAQ: SCHW) YieldPlus Fund investors who are class members of the In Re Schwab Corp. Securities Litigation ("Class Action"), Case No. 08-cv-01510 WHA, that any request for exclusion from the Class Action must be received by the claims administrator by December 28, 2009. The Class Action was filed on behalf of investors who purchased shares in the Schwab YieldPlus Fund. The YieldPlus Fund sold two classes of shares: Investor Shares (NASDAQ: SWYPX) and Select Shares (NASDAQ: SWYSX).

Presently, K&T represents many investors from across the nation who purchased shares of the YieldPlus Fund from Charles Schwab, in securities arbitration claims before the Financial Industry Regulatory Authority ("FINRA"). These investors chose to pursue their claims individually rather than participate in the class action because they suffered large losses. K&T reminds investors of the benefits of filing an individual securities arbitration claim, as opposed to participating in a class action lawsuit. By participating in a class action lawsuit, an investor may only recover a nominal amount. However, if one has experienced significant losses in the YieldPlus Fund, it may be more beneficial for them to file an individual securities arbitration claim. In 2003, K&T conducted a detailed study of securities arbitration versus class action. The study concluded that investors who file a securities arbitration claim traditionally obtain an overall higher rate of recovery as opposed to participating in a class action lawsuit. To view the full results of the comparison, please visit our web-site: http://www.nasd-law.com/documents/classvr.pdf.

Retail and institutional investors who purchased shares of the YieldPlus Fund from Charles Schwab and sustained significant losses can contact K&T to explore their legal rights and options. The attorneys at K&T are dedicated to pursuing claims on behalf of investors who have suffered investment losses. K&T, an experienced, qualified and nationally recognized securities litigation law firm, practices exclusively in the field of securities arbitration and litigation. It continues its representation of investors throughout the world in securities arbitration and litigation matters against major Wall Street brokerage firms.

If you wish to discuss this announcement or have investment losses of $100,000 or more in Schwab's YieldPlus Fund, please contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956, or visit us on the web at http://www.nasd-law.com.

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Contact Information

  • Contacts:
    Steven D. Toskes, Esquire
    Jahan K. Manasseh, Esquire
    Klayman & Toskes, P.A.
    888-997-9956
    http://www.nasd-law.com