NYSE: SCHW

The Charles Schwab Corporation

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of The Charles Schwab Corporation (NYSE: SCHW) resulting from allegations that Charles Schwab may have issued materially misleading business information to the investing public.

If you purchased Charles Schwab securities and would like to join the prospective action, please click “Join This Class Action.”

If you purchased Charles Schwab securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

On July 1, 2021, Charles Schwab disclosed that the Company had been “responding to an investigation by the U.S. Securities and Exchange Commission (SEC) arising from a compliance examination.” The investigation primarily concerned “historic disclosures related to the Schwab Intelligent Portfolios® (SIP) digital advisory solution.” Charles Schwab further disclosed its “second quarter 2021 financial results will include a liability and related non-deductible charge of $200 million.”

On this news, Charles Schwab share prices dropped $0.77, or approximately 1%, to close at $72.80 on July 2, 2021.

On June 13, 2022, the SEC announced that it “charged three Charles Schwab investment adviser subsidiaries” who “agreed to pay $187 million to harmed clients to settle the charges.” The SEC charged Charles Schwab with misleading investors that used its robo-adviser product, Schwab Intelligent Portfolios. Instead of the touted “disciplined portfolio construction methodology” that sought “optimal return[s]”, Charles Schwab’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.”

On this news, Charles Schwab share prices dropped $1.98, or approximately 3%, to close on June 13, 2022 at $60.24.

 

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Company Name: The Charles Schwab Corporation
Stock Symbol: SCHW
Class Period: N/A
Court: N/A

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The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

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