Colling, Gilbert, Wright & Carter Securites Fraud

A Naples law firm has filed a FINRA arbitration claim on behalf of a Vero Beach investor alleging the risk level of the Schwab YieldPlus Fund was understated and the Fund was misrepresented as a safe alternative to cash. According to a June 12, 2008 Yahoo Finance press release , a key allegation in the claim, filed on behalf of the Florida investor, is the fact "YieldPlus manager Kimon Daifotis sold 2.9 million shares of the YieldPlus Fund between Jan. 31, 2008 and April 1, 2008 on behalf of other Schwab mutual funds. The YieldPlus Fund's stock value dropped from $8.93 per share to $6.98 per share during that time, a 21.8 percent decline. At the same time, Schwab's portfolio managers and the company's web site encouraged investors to hold their shares of the YieldPlus Fund, according to the arbitration claim filed with FINRA (Financial Industry Regulatory Authority)."

Althoug the article goes on to say although class action lawsuits have been filed against Schwab, investors may want to pursue individual claims. Please contact our firm to explore your options for recovery of your losses.
draft 6:47:00 PM by William B. Young Jr. Esq. Delete

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