CALIFORNIA SETTLEMENT
On June 27, 2011, the claims administrator commenced mailing the distributions to eligible Federal and California class members. Please allow some time for postal delivery and delays, and thank you for your patience.
On November 8, 2010, the Charles Schwab Company filed an action with the U.S. District Court that oversees this matter to rescind the settlements stemming from the class action lawsuit brought involving its YieldPlus Fund. We will continue to update this site with further developments as they become known.
Welcome to the Charles Schwab Corp. Securities Litigation Website. This site provides information concerning the Charles Schwab Corporation
Settlement Fund, created by the settlement of a securities case brought by plaintiffs in a class action initiated in the United States District Court for the
Northern District of California, San Francisco Division. Within this site, you will find detailed information about the settlement, eligibility for
participation and distribution and answers to frequently asked questions.
The total settlement is $35,000,000 plus accrued interest in cash. Your individual recovery will depend on the number of Class Members and how many Fund shares Class Members held
on the relevant date and when you acquired and sold Fund shares. The Court in charge of the case is the United States District Court for the Northern District of
California, San Francisco Division, and the case is known as the Charles Schwab Corporation Securities Litigation, Civil Action No. 08-cv-01510 WHA. The law firm of
Hagens Berman Sobol & Shapiro LLP has been appointed to represent Class Members
KEY DATES
| Exclusion Deadline: |
December 28, 2009 |
| Deadline to submit Transaction Dispute Form: |
August 9, 2010 |
| Objection Deadline: |
August 24, 2010 |
| Fairness Hearing: |
September 22, 2010 |
YOUR RIGHTS AND LEGAL OPTIONS IN THE SETTLEMENT
| DO NOTHING |
If you are a member of the class and not an excluded party and you do nothing, the Settlement Administrator will calculate your
share of the settlement and send you a check for that amount, You do not need to file a claim form. Your holdings and transactions
that qualify for a share of the settlement have been obtained from Schwab's transaction records and a list of those transactions and
your estimated recovery was mailed with your Notice packet. If the Court approves the Settlement, your check will be mailed to you. |
| SUBMIT TRANSACTION DISPUTE FORM |
If you believe the Record of Fund Transactions provided in your Notice packet is incorrect or incomplete, you may submit a transaction
dispute form to claim additional transactions. |
| OBJECT |
You may write to the Court that you do not agree with the settlement or some part of it. |
| GO TO A HEARING |
You may ask to speak in Court about the fairness of the settlement. |
For Further Information, Please Contact:
Toll-Free Number: 1-888-955-2703
or via E-mail at: classact@gilardi.com
Disclaimer:
This case is separate and distinct from the SEC v Charles Schwab Investment Mgmt., et al. enforcement action. If you would like more information on that case, please visit its website at www.schwabfairfund.com