Schwab, YieldPlus Plaintiffs Patch $235M Settlement

Law360, New York (November 19, 2010, 1:03 PM EST) -- The Charles Schwab Corp. and a lawyer for a class of plaintiffs who say the brokerage fraudulently mismanaged its YieldPlus ultrashort bond fund have struck a deal that, if approved by a judge, would save a $235 million settlement that appeared to collapse Nov. 8.

The sides huddled before Judge William Alsup on Thursday in the U.S. District Court for the Northern District of California, presenting an agreement on the scope of a release protecting Schwab from future liability.

The sides expected a quick ruling on...
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