Charles Schwab YieldPlus Fund - Decisions To Make
The Charles Schwab YieldPlus Fund class action suit has generated some serious questions for investors to consider. The U.S. District Court in San Francisco issued a Notice of Pendency to class members which includes important information about how to opt out as a class member. Opt out requests must be received by the claims administrator no later than Monday, December 28, 2009. Investors therefore have to decide whether they intend to file individual arbitration claims against Schwab or whether they would like to remain in the class action. As we wrote about last week, investors around the country have recently won a string of FINRA arbitrations against Schwab based upon allegations that the Fund was over concentrated in mortgage backed securities.