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 This material may not be published, broadcast, rewritten or redistributed.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:
Retype 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

Google Working on Super-fast 'Quantum' Computer Chip

Tuesday, 02 Sep 2014 22:08 PM

Google on Tuesday said it is working on a super-fast quantum computer chip as part a vision to one day have machines t . . .

US, European Lawmakers to Discuss NSA, World Hotspots in DC

Tuesday, 02 Sep 2014 21:48 PM

Members of Congress and European parliaments will discuss international "hotspots" such as Iraq, Ukraine and Gaza, as we . . .

Pipeline Foes Condemn Neb. Congressman's Mock Playlist

Tuesday, 02 Sep 2014 19:28 PM

Nebraska Congressman Lee Terry is duking it out with oil pipeline fighters again, this time over a mock playlist Terry's . . .

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