Ex-Schwab Exec Gets Claims Pared From SEC's YieldPlus Suit

Law360, Los Angeles (June 12, 2012, 9:10 PM EDT) -- A California federal judge on Tuesday trimmed a U.S. Securities and Exchange Commission suit against a former Charles Schwab Corp. YieldPlus portfolio manager, dismissing securities fraud claims based on a dozen purportedly misleading statements ahead of a July 9 jury trial.

U.S. District Judge William Alsup granted defendant Kimon Daifotis’ motion for summary judgment on securities law claims with respect to 12 of more than 60 purportedly false or misleading statements attributed to the former Charles Schwab executive, adding that two aiding and abetting charges would...
To view the full article, register now.




Case Information

Case Title

Securities And Exchange Commission v. Daifotis et al

Case Number



California Northern

Nature of Suit



William Alsup

Date Filed

January 10, 2011

Law Firms


Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.