NON-SCHWAB ACCOUNT FEDERAL SETTLEMENT
On March 20, 2012, the Court Ordered that all money remaining in the settlement fund after fees and expenses are paid will be distributed to class members who have cashed the their initial disbursement checks. Per the Order, only class members whose residual payments are greater than $100 will receive a second distribution check.
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 Corp.
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 $202,762,736.61 in cash. Your individual recovery will depend on the amount of shares acquired during the Class Period (including shares acquired through
the reinvestment of dividends) and the timing of those acquisitions, and any sales.
The Court in charge of the case is United States District Court for the Northern District of California, San Francisco Division, and the case is known as In re
Charles Schwab Corp. Securities Litigation. The Court has appointed the law firm Hagens Berman Sobol & Shapiro LLP to represent Class Members.
KEY DATES
| Exclusion Deadline: |
December 1, 2010 |
| Deadline to submit Transaction Dispute Form or Proof of Claim: |
December 1, 2010 |
Objection Deadline
(and/or Deadline for Request to be Heard by the Court) |
December 1, 2010 |
| Fairness Hearing: |
December 15, 2010 |
YOUR LEGAL RIGHTS AND OPTIONS
| IF YOU RECEIVED A RECORD OF FUND TRANSACTIONS |
You do not need to submit a claim or a request for payment. Your transactions that qualify for a share of the settlement have been provided by your broker's 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, if any, will be mailed to you. |
| IF YOU RECEIVED A RECORD OF FUND TRANSACTIONS AND DO NOT BELIEVE THAT IT IS CORRECT OR COMPLETE, YOU MUST SUBMIT A 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. |
| IF YOU RECEIVED A PROOF OF CLAIM FORM |
In order to participate, you are required to complete and return the Proof of Claim, listing all your YieldPlus share purchases, sales, dividend income, and dividend reinvestments from May 31, 2006, to June 1, 2008 and supply supporting documentation. |
| OBJECT |
You may write to the Court that you do not agree with the settlement or some part of |
| 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