Notice From the Securities Law Firm of Klayman & Toskes to YieldPlus Fund Investors Who Lost in Excess of $100,000: Second Opt-Out Deadline Set for January 14, 2011
NEWPORT BEACH, CA -- (Marketwire) -- 12/17/10 -- 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 the US District court recently approved an amendment to the proposed settlement of the Class Action. The Court's Supplemental Notice of Proposed Settlement provides that class members may request exclusion from the class. The request for exclusion must be postmarked no later than January 14, 2011, and must be received no later than January 21, 2011. 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 investors 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 excess of $100,000 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.
Investors who purchased shares of the YieldPlus Fund from Charles Schwab and sustained significant losses in excess of $100,000 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.
Steven D. Toskes, Esquire
Jahan K. Manasseh, Esquire
Klayman & Toskes, P.A.