The Schwab YieldPlus Fund Select Shares (SWYSX) and the Schwab YieldPlus Investor Shares (SWYPX) have been the subject of numerous arbitration claims across the United States. Investors sustained substantial losses as a result of Charles Schwab’s numerous representations.
On August 21, 2009, a court order was issued certifying three class actions under Section 11 and 12 of the Federal Securities Act. The significance of this order is that anyone who has invested in the above funds will be included in the class action suit unless a claim is filed with the Financial Regulatory Authority on or about December 15, 2009.
As an investor, you should consider the substantial benefits you will receive by opting-out of the class action suit and individually enforcing your right. By opting-out, you will have the benefit of choosing a law firm that you trust to represent your personal interests, have tailor made litigation papers prepared reflecting your personal experience as an investor, have control over major decisions in your representation including whether to agree to a settlement offer, contact with a lawyer that represents you and greater damage awards. Most importantly, class action lawsuits can settle for pennies to the dollar!
The benefits of filing your claim before the Financial Regulatory Authority (FINRA) are numerous. At a FINRA arbitration hearing, you will experience significantly less delays, higher damage awards including lawyer’s fees and interest and, if successful, receive your award in a matter of weeks, not months or years.
If you are an investor who has lost $10,000 or more, we can have your claim heard on an individual basis. For investors who have sustained greater losses, we encourage you to consider the benefits of having a lawyer who represents you individually and not a class.
To learn more about our firm and the benefits of pursuing a FINRA arbitration, we invite you to contact our Securities Fraud Department at 888-529-4669.