Squitieri & Fearon, LLP is currently investigating claims on behalf of participants in the Charles Schwab Retirement Savings and Investment Plan who invested in Schwab-related funds. Those Schwab funds charged fees and expenses that often were excessive and directly benefitted Schwab and the other fiduciaries of the Plan. Often the Schwab-related investments performed much worse than cheaper, alternative investments. The Schwab-related funds were more expensive than comparable funds and often performed worse than the comparable funds, meaning that participants in the Schwab 401(k) plan were paying higher fees for lower performance. Over time, these higher fees significantly decreased the retirement assets available to the participants in the Schwab 401k plan. As a result, participants in the 401k plan who invested in the Schwab funds lost millions of dollars in retirement assets that instead went directly to Schwab and some of the Schwab-related entities.
Some of the funds with these higher fees included:
the Schwab Managed Retirement Trust Funds
the Schwab S&P 500 index Fund
the Schwab Stable Value Fund
the Schwab Value Advantage fund
the Schwab Self-Directed Brokerage System.
If you were a participant or if you know someone who was a participant in any of the above-mentioned plans you may be eligible to receive compensation through a class action lawsuit. Please contact Stephen J. Fearon, Jr. by e-mail at stephen@sfclasslaw.com or by phone at (212) 421-6492. You can also complete the following form, and someone from the firm will contact you.