NEW YORK, July 7, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of The Charles Schwab Corporation (" Charles Schwab" or the "Company") (SCHW) - Get Charles Schwab Corporation Report. Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Charles Schwab and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 2, 2021, Charles Schwab disclosed in a filing with the U.S. Securities and Exchange Commission ("SEC") that the Company "has been responding to an investigation by the [SEC] arising from a compliance examination" and that "[t]he investigation largely concerns historic disclosures related to the Schwab Intelligent Portfolios® (SIP) digital advisory solution." Accordingly, Charles Schwab disclosed that "[g]iven the investigation's status, Schwab's second quarter 2021 financial results will include a liability and related non-deductible charge of $200 million."
On this news, Charles Schwab's stock price fell $2.03 per share, or 2.79%, to close at $70.77 per share on July 6, 2021, the next trading day.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT: Robert S. WilloughbyPomerantz LLP firstname.lastname@example.org 888-476-6529 ext. 7980
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SOURCE Pomerantz LLP