SEATTLE – Today the U.S. District Court in San Francisco issued a notice of pendency to all class members involved in the Charles Schwab (SCHW:NASDAQ) YieldPlus litigation that claims the company misled investors about the diversification and safety of Schwab YieldPlus Funds Investor Shares (SWYPX:NASDAQ) and Schwab YieldPlus Funds Select Shares (SWYSX:NASDAQ).

The notice includes details and instructions for participation in the lawsuit and potential recovery, outlines three specific classes already approved by the court as well as instructions for those who wish to opt out as a class member.

The notice details three certified classes of investors: All persons or entities who acquired shares of the fund from Nov. 15, 2006 through March 17, 2008 and is traceable to a false and misleading registration statement and were damaged; All persons or entities who acquired shares of the fund from May 31, 2006 through March 17, 2008 and is traceable to a false and misleading prospectus for the fund; All California resident investors who held shares of the YieldPlus fund on Sept. 1, 2006.

The notice declares that all eligible investors, as outlined above, are included in the lawsuit and require no further action to remain a class member.

For those who wish to opt out as a class member, you need to contact Gilardi & Co. LLC in writing by Monday, Dec. 28, 2009. After opting out of this suit, individuals can choose to pursue further legal action through their own counsel and at their own expense.

Anyone who wishes to opt out as a class member needs to send a written request for exclusion from the class membership to:

In re Schwab Corp. Secs. Litigation Exclusions
c/o Gilardi & Co. LLC
PO Box 808061
Petaluma, CA 94975-8061

Investors and eligible class members can view the notice in full at here. Further information about this case may be obtained by contacting the Notice Administrator directly at (888) 955-2703.

The lawsuit is still pending in court and this notice is not an expression by the court of any opinion in the pending litigation.

The lawsuit, first filed by Hagens Berman in U.S. District Court in Northern California, alleges Schwab omitted important information from the funds' SEC Registration Statement, Prospectus and selling representation, including how heavily the funds were exposed to sub-prime mortgage risks.

The lawsuit claims more than 50 percent of the funds' assets are invested in the risky mortgage industry - a percentage that grew as the company abandoned the original objectives of the funds in pursuit of higher yields.

For more information about the lawsuit, progress and today's notice please visit www.hbsslaw.com.

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About Hagens Berman
Hagens Berman Sobol Shapiro LLP is a consumer-rights class-action law firm with offices in ten cities. The firm has been named to the National Law Journal’s Plaintiffs’ Hot List eight times. More about the law firm and its successes can be found at www.hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

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