Schwab YieldPlus Losses
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Fight Investment FraudGreco & Greco’s attorneys are currently reviewing legal options including the filing of arbitration claims with investors in Schwab YieldPlus Funds. Common securities claims which may be applicable to the sale of these investments include securities fraud through misrepresentations and omissions, common law fraud and constructive fraud, suitability, breach of fiduciary duty, negligence, and failure to supervise. Our lawyers provide free consultations regarding potential claims against stockbrokers (registered representatives) and brokerage firms (Broker-Dealers) for securities fraud, unsuitable recommendations and investments, fraud, negligence, lack of supervision, breach of fiduciary duty, and breach of contract. Contact us for a free consultation. Schwab YieldPlus LossesIn a decline that has been described as “one of the more spectacular meltdowns in mutual fund history” by this San Francisco Chronicle article, the Schwab YieldPlus fund has declined by over 25% this year. The Schwab Yield Plus fund was supposed to be an ultra short term bond fund which was a “smart alternative for your cash,” but investors who expected the safety of a money market fund have suffered significant damages. As shown by this Morningstar report, the fund invested almost 50% of its assets in mortgage related securities. Investors who invested in the Schwab YieldPlus fund expecting a cash or money market alternative and subsequently lost a portion of their savings should contact an attorney to discuss their legal options. Greco & Greco is a law firm experienced in filing arbitration claims against brokerage firms based on misrepresentations, omissions, securities fraud, and other wrongful conduct. We are currently representing clients who suffered losses in the Schwab Yieldplus funds, and reviewing potential claims of other Schwab customers. |