Reserve Yield Plus Fund Investor Group (NASDAQ: RYPYX)
Reed R. Kathrein
If you have questions about this case, please direct them to:
The Reserve Yield Plus Fund Securities Class Action Litigation
c/o CREDERIAN FUND SERVICES LLC
1400 N. Providence Road
Bldg. 2, Suite 5035
Media, PA 19063 (800) 691-7562
Hagens Berman litigated the case on behalf of purchasers and holders of certain mutual funds offered by the Reserve Short-Term Investment Trust and TD Ameritrade. Affected funds include the Reserve Yield Plus Fund traded under the following ticker symbols: (NASDAQ:RYPYX; NASDAQ:RYPTX; NASDAQ:RYPJX; NASDAQ:RYPQX).
The lawsuit claimed the trust, its parent and affiliates violated federal securities laws. The lawsuit alleged shareholders purchased funds based on misleading statements or omissions related to the safety and liquidity of the investment.
After years of litigation, in 2015, the lawsuit settled for $5.75 million in net benefits for the Class Members.
On Sep. 28, 2009, Hagens Berman was appointed Lead Counsel in the case. On March 26, 2010, the defendants filed a motion to dismiss the case. That motion is still pending.
In September 2008, news broke that shares dropped below $1.00, marking the second time in history a money market fund 'broke the buck', resulting in the fund's collapse. The suit seeks to represent anyone who purchased or held funds from July 27, 2007, to Sept. 16, 2008. The class includes purchasers or holders of the Reserve Yield Plus Fund in connection with the July 27, 2007, offering.
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