BEVERLY HILLS, Calif., Nov. 24, 2009 (GLOBE NEWSWIRE) -- Aidikoff, Uhl & Bakhtiari announces that the deadline to opt out of the Schwab YieldPlus class action lawsuit is fast approaching. Schwab YieldPlus Fund investors who are members of the class action -- which involves the Schwab YieldPlus Fund Select Shares (Nasdaq:SWYSX) and the Schwab YieldPlus Investor Shares (Nasdaq:SWYPX) -- have approximately 33 days to submit their request to opt out of the class action if they wish to pursue an individual arbitration claim with the Financial Industry Regulatory Authority (FINRA).
"Charles Schwab marketed and sold the Schwab YieldPlus Funds as safe, cash-like investment alternatives. Instead, evidence shows that the funds contained more than 45% of toxic mortgage- and asset-backed securities. This exposed investors to not only more risk but also the potential for more financial losses," says Ryan Bakhtiari, an attorney whose law firm Aidikoff, Uhl & Bakhtiari has successfully represented investors in their claims against Charles Schwab and the YieldPlus Funds.
Bakhtiari adds that investors who suffered financial losses in their Schwab YieldPlus investments need to carefully consider whether they remain in the Schwab class action lawsuit or submit their request for exclusion and pursue a separate individual FINRA arbitration claim.
"For some investors, class action representation in the YieldPlus case can be an attractive legal option when individual financial losses are small. In other instances, however, filing an individual claim with FINRA may be a more economically attractive option. Investors should consult with counsel to review their options," Bakhtiari says.
Investors must submit their requests for exclusion by December 28, 2009, or they will be bound by the results of the class action lawsuit.
For more information about opting out of the Charles Schwab YieldPlus class action, please contact us at 866-827-6537.
In 2007, the law firm of Aidikoff, Uhl & Bakhtiari joined an association of three other law firms to assist investors who suffered financial losses in the Schwab YieldPlus Funds and other subprime mortgage-related investments. The laws firms include: Maddox, Hargett & Caruso, P.C. of Indianapolis, Indiana, and New York, New York; David P. Meyer & Associates Co., L.P.A. of Columbus, Ohio; and Page Perry, LLC of Atlanta, Georgia.
Additional information is available at http://www.subprimelosses.com/charles-schwab.php or by contacting an attorney below.