SCHW-PD.US
id: 1018
The Charles Schwab Corporation (SCHW) Antitrust Settlement
Eligible claimants can submit their claims for compensation.
E.D. Texas
Court4:22-cv-00470
Case number- In July 2021, Charles Schwab (SCHW) disclosed ongoing investigation by SEC with $200M charge in Q2’ 21. Then in June 2022, SEC charged Charles Schwab with misleading investors that used its suboptimal robo-advisor product.
- On it, in June 2022 $SCHW fell 2.45%, losing $823M+ of shareholder value.
- Investors may have grounds to suspect that Charles Schwab failed to uphold professional standards in serving its clients, which led to their losses.
On July 2, 2021, Charles Schwab disclosed an investigation by the SEC focused on the Schwab Intelligent Portfolios digital advisory solution. The company warned that its second quarter 2021 financial results would include a liability and related non-deductible charge of $200 million. Then, on June 13, 2022, the SEC announced that it had charged Charles Schwab with misleading investors that used its robo-advisor product, Schwab Intelligent Portfolios. Instead of receiving optimal returns, Charles Schwab’s clients stood to make less money even while taking on the same amount of risk.
On this news, on June 13, 2022 $SCHW fell 2.45% and lost over $823 million of its market capitalization, seriously damaging shareholders.
Considering all the information, investors might have grounds to suspect that Charles Schwab failed to disclose not meeting SEC requirements in its client service, which led to their losses.
Case Status
Accepting Claims
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Other
Trade Direction
Long
Filing date
06/02/2022
Plaintiffs
Jonathan Corrente; Charles Shaw; Leo Williams
Attorneys
Bathaee Dunne LLP; Korein Tillery P.C.
Defendants
The Charles Schwab Corporation
Judge
Amos L. Mazzant III
Trades matching type
FIFO