Securities
Apr. 1, 2010
Judge Hands Schwab Investors a Win
The Charles Schwab Corp. broke the law when it increased its YieldPlus fund's investment in mortgage-backed securities from less than 25 percent of assets to nearly 50 percent without shareholder approval, a federal judge ruled Tuesday.
Daily Journal Staff Writer
SAN FRANCISCO - The Charles Schwab Corp. broke the law when it increased its YieldPlus fund's investment in mortgage-backed securities from less than 25 percent of assets to nearly 50 percent without shareholder approval, a federal judge ruled Tuesday.
The issue surfaced in a class action that accuses the company of misrepresenting the extent of the fund's investment in and th...
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