DENVER, April 1, 2008 (PRIME NEWSWIRE) -- Dyer & Berens LLP announced today that it has filed a proposed class-action lawsuit on behalf of investors who purchased Schwab YieldPlus Fund Select Shares (Nasdaq:SWYSX) from Charles Schwab Corporation ("Charles Schwab" or the "Company") (Nasdaq:SCHW) between March 17, 2005 and March 17, 2008 (the "Class Period"). The case was filed in the United States District Court for the Northern District of California and the claims are asserted under secs. 11, 12(a)(2) and 15 of the federal Securities Act of 1933.
In the Complaint, the plaintiff alleges that Charles Schwab, the fund's underwriter, and others, misled investors about the underlying risk in the fund, including its exposure to the sub-prime mortgage market. The fund was not well diversified and instead was concentrated in the mortgage industry.
If you are a member of the Class, you may, no later than May 16, 2008, request that the Court appoint you as lead plaintiff for the Class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
For a free consultation regarding your rights and interests with respect to the pending lawsuit, you may contact Jeffrey A. Berens of Dyer & Berens LLP at (888) 300-3362 or (303) 861-1764, or via email at jeff@dyerberens.com.
Dyer & Berens LLP specializes in complex class action litigation on behalf of injured investors throughout the nation. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. Its attorneys have served as lead or liaison counsel in many securities fraud class actions, including: In re Qwest Comm'ns Int'l Sec. Litig.; Croker v. Carrier Access Corp.; UFCW Local 880-Retail Employers Joint Pension Fund v. Newmont Mining Corp.; Rasner v. FirstWorld Comm'ns, Inc.; In re ICG Comm'ns Sec. Litig.; Angres v. Smallworldwide, PLC; In re Ultimate Electronics, Inc. Sec. Litig.; Kerns v. SpectraLink Corp.; Queen Uno Ltd. v. Coeur d'Alene Mines Corp.; Toothman v. One-Stop Wireless of America; Gregg v. Sport-Haley, Inc.; and In re Tele-Communications, Inc. Sec. Litig.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca