ATLANTA, July 2, 2008 (PRIME NEWSWIRE) -- The law firm of Holzer Holzer & Fistel, LLC announced today that it has initiated an investigation concerning losses suffered by certain investors of the Schwab Retirement Income Fund ("the Fund") (Nasdaq:SWARX) offered by Charles Schwab Corporation ("Charles Schwab") (Nasdaq:SCHW).
The investigation focuses on whether Charles Schwab misled investors about the diversification and underlying risks of the Fund, including misrepresenting the Fund's exposure to the sub-prime mortgage market. The Fund targets conservative investors already in retirement who want to preserve their savings while generating income. According to Charles Schwab, the investment goal of the Fund is "to provide current income, with capital appreciation as a secondary objective." Contrary to these representations, the Fund was not well diversified and instead included YieldPlus mutual funds which were concentrated in the mortgage industry.
If you have information relevant to the investigation, or if you believe you were harmed by the conduct described above, you may contact Michael I. Fistel Jr., Esq. or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.