On November 27, 2002 we filed a class action complaint against Charles Schwab & Company on behalf of brokerage account holders, Baker v. Charles Schwab & Company, Inc., et al., Los Angeles County Superior Court Case No. BC286131. The complaint alleges that defendants charge unfair maintenance and termination fees which were not adequately or properly disclosed to the consumer.
Pearson, Soter, Warshaw & Penny, LLP has been appointed Class Counsel in a settlement valued at $2,659,200 with Charles Schwab & Co., Inc. The Court granted preliminary approval to the class action settlement which will provide a cash payment of up to $30 each to persons and/or entities who had Schwab, Schwab One, and/or Schwab Access accounts with Charles Schwab & Co., Inc. and who were charges a fee for transferring assets away from their Schwab account between June 1, 2002 and May 31, 2003 and who did not receive a waiver or a refund of the transfer fee from Schwab or any other financial institution.
All claim forms must be postmarked and sent to the Claims Administrator is no later than August 21, 2006.
If you have not received a copy of the class notice or claim form, please call the Claims Administrator, toll free at (877) 477-0966.
If you would like to contact PSSW&P about this case, please contact us.
