{"id":4598,"date":"2008-04-15T10:14:52","date_gmt":"2008-04-15T10:14:52","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2008\/04\/schwab_yieldplus_fund_investor"},"modified":"2021-09-20T15:42:27","modified_gmt":"2021-09-20T20:42:27","slug":"schwab-yieldplus-fund-investor","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/schwab-yieldplus-fund-investor\/","title":{"rendered":"Schwab YieldPlus Fund Investors File Securities Class Action Lawsuit Alleging Marketing Misrepresentation in Funds\u2019 Offering Documents"},"content":{"rendered":"

\t\t\t\tA class action law suit has been filed on behalf of those who bought Schwab YieldPlus Investor Funds Investor Shares and Schwab YieldPlus Funds Select Shares against the Schwab Corporation, the underwriter and investment adviser connected to the funds, and several Schwab officers and directors. However, many smart investors are instead seeking greater recovery by filing their own cases. <\/p>\n

The investor plaintiffs in the class action claim the defendants misled them when they provided false statements about the funds’ lack of diversification and the degree to which the funds were exposed to subprime-backed securities. The plaintiffs say that the funds-marketed as a safe alternative to money market funds-actually had more than half of its fund assets invested in the mortgage industry. <\/p>\n

The funds are down significantly. Through March 26, The Schwab YieldPlus Investor Fund (SWYPX) has fallen 17% , while the Schwab California Tax-Free YieldPlus Fund (SWYCX) has dropped by 9% . Investors say that the defendants were in violation of Section 11 of the Securities Act of 1933 when they misrepresented the funds to investors, marketing them with the goal of looking for high current income coupled with minimum share price changes. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

A class action law suit has been filed on behalf of those who bought Schwab YieldPlus Investor Funds Investor Shares and Schwab YieldPlus Funds Select Shares against the Schwab Corporation, the underwriter and investment adviser connected to the funds, and several Schwab officers and directors. However, many smart investors are instead seeking greater recovery by […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3869],"tags":[],"class_list":["post-4598","post","type-post","status-publish","format-standard","hentry","category-schwab-corporation"],"yoast_head":"\nSchwab YieldPlus Fund Investors File Securities Class Action Lawsuit Alleging Marketing Misrepresentation in Funds\u2019 Offering Documents — Investor Lawyers Blog — April 15, 2008<\/title>\n<meta name=\"description\" content=\"A class action law suit has been filed on behalf of those who bought Schwab YieldPlus Investor Funds Investor Shares and Schwab YieldPlus Funds Select — April 15, 2008\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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