NEW YORK, Oct. 8, 2008 (GLOBE NEWSWIRE) -- The Securities Law Firm of Klayman & Toskes, www.nasd-law.com, announced today that it filed a securities arbitration claim against Charles Schwab (Nasdaq:SCHW) with the Financial Industry Regulatory Authority's ("FINRA") Office of Dispute Resolution. The claim was filed on behalf of an investor who purchased Schwab's YieldPlus Select Fund (Nasdaq:SWYSX). The Claimant alleged that he purchased the YieldPlus Fund as an alternative to a money market fund, where he sought income with little to no risk. Instead, the value of his investment has experienced significant declines.
Klayman & Toskes remains at the forefront of representing investors from across the country against Charles Schwab to recover losses sustained in the YieldPlus Funds, including Schwab's YieldPlus Fund (Nasdaq:SWYPX). According to Jahan K. Manasseh, an attorney at Klayman & Toskes, "Our firm has been filing arbitration claims against Charles Schwab since the early part of 2008, yet we feel that we have only seen the tip of the iceberg. Many investors are just now learning that they do not have to wait for class actions to take their course, but instead they can file an individual arbitration claim to obtain a recovery."
Klayman & Toskes reminds investors of the benefits of filing an individual arbitration claim, as opposed to participating in a class action lawsuit. By participating in a class action lawsuit, an investor will most likely recover only pennies on the dollar. However, if one has experienced losses of $25,000 or more in the Charles Schwab YieldPlus funds, it may be more beneficial for them to file an individual securities arbitration claim. In 2003, Klayman & Toskes conducted a detailed study of securities arbitration versus class action. The study concluded that investors who file a securities arbitration claim traditionally obtain an overall higher rate of recovery as opposed to participating in a class action lawsuit. To view the full results of the comparison, please visit our web-site: http://www.nasd-law.com/documents/classvr.pdf
The attorneys at the Law Firm of Klayman & Toskes are dedicated to aggressively pursuing claims on behalf of investors who have suffered losses in the Charles Schwab YieldPlus funds, and as a result of the credit crisis and subprime fallout overall. Klayman & Toskes, an experienced, qualified and nationally recognized securities litigation law firm, practices exclusively in the field of securities arbitration and litigation. It continues its representation of investors throughout the world in securities arbitration and litigation matters against major Wall Street brokerage firms.
If you lost $25,000 or more in the Charles Schwab YieldPlus funds and you wish to discuss your legal options at no obligation, please contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956, or visit us on the web at http://www.nasd-law.com.