Schwab Plaintiffs Can't Amend State Pleadings: Judge

By Pete Brush

Law360, New York (May 18, 2009, 12:00 AM ET) -- A federal judge has rejected a bid to amend certain state law-related pleadings from a putative class of plaintiffs that accuse the Charles Schwab Corp. of misrepresenting risks associated with mutual funds that bet on mortgage-backed securities.

Judge William H. Alsup's ruling Friday in the U.S. District Court for the Northern District of California came after his February dismissal of intentional interference and breach of fiduciary duty claims made under state law.

Federal claims in the case, however, are moving forward. And a state unfair competition...
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