Securities
Mar. 11, 2011
Claims Against Schwab Dismissed
A federal judge has dismissed a case in which investors claimed the Charles Schwab Corp. violated California law by increasing its Total Bond Market Fund's investments in mortgage-backed securities without a shareholder vote.
Daily Journal Staff Writer
For the second time in a week, U.S. District Judge Lucy H. Koh has used the Securities Litigation Uniform Standards Act to dismiss a case in which plaintiffs claim the Charles Schwab Corp. violated the law when it increased its Total Bond Market Fund's investments in mortgage-backed securities without a shareholder vote. In her ruling, filed late Tuesday, Koh gave the plaintiffs a chance to file an amended...
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