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Securities

Apr. 22, 2010

Schwab Settles Federal Suit

The Charles Schwab Corp. will pay $200 million to resolve a portion of a federal lawsuit in which a class of investors claim the company misrepresented the extent of its YieldPlus Fund's investment in mortgage-backed securities, the company announced Tuesday.

By Rebecca Beyer

Daily Journal Staff Writer

SAN FRANCISCO - The Charles Schwab Corp. will pay $200 million to resolve a portion of a federal lawsuit in which a class of investors claim the company misrepresented the extent of its YieldPlus Fund's investment in mortgage-backed securities, the company announced Tuesday.

The San Francisco-based company is fighting claims that revolve around a 2006 YieldPlus Fund decision to in...

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