Published On: November 18, 2015

The United States Supreme Court recently upheld a decision to allow Northstar Financial Advisors Inc. to sue Charles Schwab on behalf of its clients for breach of contract. The 9th U.S. Circuit Court of Appeals claimed that the fund’s fundamental policies were sufficient to form a binding contract. Schwab allegedly deviated from the explicit objectives of a mutual fund sold to its investors. The objective was to track the Lehman Brothers U.S. Aggregate Bond Index and avoid industry bets. Brokers allegedly invested over 25% of assets in mortgage securities and collateralized mortgage obligations. The fund lost 4.8% and the index rose 7.85%.

Disclaimer

The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.

Chicago Investment Fraud Attorneys Offering Nationwide Representation to Investors

If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

Stoltman Law Securities and Investment Fraud Attorneys