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Corporate

Mar. 4, 2011

Suit Against Schwab Dismissed

The Charles Schwab Corp. won dismissal of investors' claims that the firm's Total Bond Market Fund violated California law by investing too heavily in mortgage-backed securities.


By Rebecca Beyer


Daily Journal Staff Writer


SAN FRANCISCO - Investors suing the Charles Schwab Corp. over its Total Bond Market Fund's investments in mortgage-backed securities have come up short again.


The plaintiffs, led by Northstar Financial Advisors Inc., claim that the fund deviated from its objectives by increasing investments in mortgage-backed securities. But U.S. District Judge Lucy H. Koh ruled late Tuesday that the plaintiffs&#...

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