The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of The Charles Schwab Corporation (“Charles Schwab” or “the Company”) (NYSE: SCHW) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The SEC announced on June 13, 2022, that it had “charged three Charles Schwab investment adviser subsidiaries” who “agreed to pay $187 million to harmed clients to settle the charges.” According to the SEC, the Company misleadingly touted its robo-adviser as using “disciplined portfolio construction methodology” that sought “optimal returns,” when the Company’s “own data showed that under most market conditions, the cash in the portfolios would cause clients to make less money even while taking on the same amount of risk.” Based on this news, shares of Charles Schwab fell by about 3% on June 13, 2022.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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