Tags: US | Charles | Schwab | Settlement

Schwab Settles Mortgage-Backed Securities Suit

Tuesday, 20 Apr 2010 09:58 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Charles Schwab will pay $200 million to resolve a federal class action lawsuit filed by investors who say the financial holding company misled them over the safety of mortgage-backed securities.

The fund that angered investors shriveled from nearly $14 billion in 2007 to less than $1 billion in early 2008 as investors bailed out and managers were forced to dump their holdings cheaply.

The discount broker would avoid a trial with the settlement, but it must still be approved by the court.

Shares of Charles Schwab Corp. added 14 cents in premarket trading to $19.20.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Protesters Stage Wall Street Climate Crisis Sit-in

Monday, 22 Sep 2014 18:21 PM

A day after 100,000 people marched to warn that climate change is destroying the Earth, more than a thousand activists g . . .

Report: Obamacare Could Leave 2M Uninsured via Glitch

Monday, 22 Sep 2014 18:14 PM

Nearly 2 million adults and children could be left uninsured by an "odd and particularly problematic side-effect" of Oba . . .

Forecaster: Expect Colder Temperatures, More Snow This Winter

Monday, 22 Sep 2014 17:34 PM

Mother Nature is gearing up to clobber the United States with much colder temperatures this winter, according to Joe Bas . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved