On November 27, 2002 we filed a class action complaint against Charles
Schwab & Company on behalf of brokerage account holders, Baker v.
Charles Schwab & Company, Inc., et al., Los Angeles County Superior
Court Case No. BC286131. The complaint alleges that defendants charge
unfair maintenance and termination fees which were not adequately or properly
disclosed to the consumer.
Pearson, Simon & Warshaw, LLP has been appointed Class Counsel in a
settlement valued at $2,659,200 with Charles Schwab & Co., Inc. The
Court granted preliminary approval to the class action settlement which
will provide a cash payment of up to $30 each to persons and/or entities
who had Schwab, Schwab One, and/or Schwab Access accounts with Charles
Schwab & Co., Inc. and who were charges a fee for transferring assets
away from their Schwab account between June 1, 2002 and May 31, 2003 and
who did not receive a waiver or a refund of the transfer fee from Schwab
or any other financial institution.
All claim forms must be postmarked and sent to the Claims Administrator
is no later than
August 21, 2006.
If you have not received a copy of the class notice or claim form, please
call the Claims Administrator, toll free at
If you would like to discuss this case with Pearson, Simon & Warshaw, please