By timestaff
April 21, 2010

Charles Schwab said Tuesday it will pay $200 million to settle a portion of a lawsuit filed over losses suffered by its YieldPlus bond fund, which plaintiffs alleged had been marketed as a safe alternative to cash. More Money had written about this case earlier this month.

In a statement, the company said that settling “allows the company to avoid the distraction and uncertainty of a trial, and the further possibility of a protracted appeals process.”

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