Posts for the 'Financial Fraud' Category
Schwab YieldPlus Class Action Suits
Following the recent collapse of share prices for the Schawb Yield Plus Fund, many investors are exploring their legal options to recover money they lost. The lawyers at Saiontz, Kirk & Miles, P.A. represent investors who are pursuing individual claims against Charles Schwab for failing to properly disclose the nature of the risks associated with certain securities held by the bond fund. While Schwab YieldPlus Class Action lawsuits have been filed, individual investors who lost over $10,000.00 will likely be in a better position to recover their losses through an individual claim.
>>PRIOR POST (4/10/2008): Recover Schwab YieldPlus Losses
Charles Schwab YieldPlus Settlement Offers for Pennies on the Dollar
The Wall Street Journal is reporting that Charles Schwab is attempting to offer only pennies on the dollar to settle Schwab YieldPlus lawsuits being pursued by investors who lost money as a result of their investment in the bond fund. The lawyers at Saiontz, Kirk & Miles, P.A. are pursuing financial fraud claims on behalf of individuals who suffered losses in excess of $10,000 due to the fund’s heavy investment in mortgage-related securities. The minimal amount of the initial Schwab settlement offers highlights the importance for investors to have representation to make sure they are properly reimbursed for losses suffered.
Schwab Yield Plus problems may not be limited to this one bond fund
Although it was promoted and sold as a safe alternative to cash or money market accounts, the Schwab YieldPlus bond fund has lost 25% of its value since the beginning of this year. Heavy investments in risky mortgage-backed securities have lead to substantial losses for investors. While other bond funds in the same class have only lost about 2% on average this year, the Schwab Yield Plus problems may not be unique to this one fund.
Bear Stearns lawsuits filed due to fraudulent misrepresentations
Following the financial collapse of one of the largest investment banks, many investors are pursuing Bear Stearns lawsuits to recover losses caused by fraudulent misrepresentations made by the company. As Bear Stearns stock prices fell amid concerns that the bank may fail, false statements were made to mislead investors about the financial strength of the company. As a result, millions of dollars were lost by investors who purchased shares of Bear Stearns stock between March 12 and March 14.
>>INFORMATION: Bear Stearns Investor Lawsuits
Schwab Yield Plus Select losses may be recoverable
The Schwab YieldPlus Select Fund (SWYSX), which is one of the largest bond funds for Charles Schwab Corp., has lost 80% of its assets over the past year. Many investors placed their money in this fund as an alternative to a money market, and they have suffered substantial losses as a result of the funds inappropriate concentration on mortgage-backed securites. Some of these investment losses may be recoverable through a Schwab YieldPlus Select lawsuit.
Charles Schwab YieldPlus Fund Lawsuits
Investors in Charles Schwab YieldPlus Funds may be entitled to recover some of the losses which have been suffered in recent months. False and misleading statements were made about the funds lack of diversification and the extent of the investment in risky sub-prime mortgage securities. A Charles Schwab class action lawsuit has been filed , however, individuals who lost more than $10,000 should consider filing their own Charles Schwab YieldPlus Fund lawsuit to recover their investment losses.
Bear Stearns Investor Lawsuits
Following the sudden demise of Bear Stearns Cos., many investors are left holding shares that are worth about 90% less than the market value last week. Although the stock had been falling for a few weeks, statements made by CEO Alan Schwartz less than five days ago provided false reassurance to investors about the firm’s liquidity. The financial fraud lawyers at Saiontz, Kirk & Miles, P.A. are reviewing potential Bear Stearns investor lawsuits for individuals who purchased shares of the company’s stock between March 12th and 14th, in reliance upon statements by CEO Schwartz.
Auction rate securities lawsuits
The financial fraud lawyers at Saiontz, Kirk & Miles, P.A. are reviewing potential auction rate securities lawsuits for investors who have suffered damages as a result of “failed” auctions which have now essentially frozen their funds. Although these investments were marketed by many brokerage firms as very safe investments which were similar to money-market funds, approximately $330 billion worth of auction rate preferred shares are now unable to be redeemed by investors. Many individuals relied upon their ability to access these funds, and now are suffering severe financial harm.
Arbitration to Recover Morgan Keegan Bond Fund Losses
Many investors in Morgan Keegan bond funds have suffered substantial losses as a result of negligent management and the brokerage’s failure to adequately inform them about the nature of the securities which were in the funds’ portfolios. The securities arbitration lawyers at Saiontz, Kirk & Miles, P.A. are assisting investors who lost over $10,000 recover Morgan Keegan bond fund losses.
RMK Fund Lawsuits are being pursued for certain Morgan Keegan investors
Hundreds of Morgan Keegan investors are reviewing potential RMK Fund lawsuits to recover losses suffered due to the recent subprime mortgage crash. Regions Morgan Keegan (RMK) mutual fund managers overconcentrated their portfolios in highly vulnerable collateralized debt obligations without fully disclosing the extent of the investments or the true risks they were exposing their investors to. As a result of their mismanagement and fraudulent misrepresentations, investors may be able to recover some of the losses experienced during 2007.
>>INFORMATION: RMK Fund Lawsuits
