Dimond Kaplan & Rothstein, P.A. Files FINRA Arbitration Claim Against Charles Schwab...

Dimond Kaplan & Rothstein, P.A. Files FINRA Arbitration Claim Against Charles
Schwab & Co., Inc. to Recover Schwab YieldPlus Investment Losses -- SWYSX, SWYPX

MIAMI, June 16, 2008 (PRIME NEWSWIRE) -- The securities law firm of Dimond
Kaplan & Rothstein, P.A. (http://www.dkrpa.com or
http://www.investmentfraud-lawyer.com) announced today that it filed a FINRA
arbitration claim against Charles Schwab & Co., Inc. on behalf of a California
investor who lost nearly $200,000 in the Schwab YieldPlus fund. The claim
alleges causes of action for breach of contract, breach of fiduciary duty,
negligence, negligent misrepresentations and omissions, and fraud.

Charles Schwab offered two nearly identical YieldPlus funds, the Schwab
YieldPlus - Select Shares (SWYSX) and the Schwab YieldPlus - Investor Shares
(SWYPX). Both funds are from the ultra-short bond fund category.

The arbitration claim alleges that Charles Schwab misrepresented the risks of
the funds and failed to disclose important information about the securities held
in the funds. Specifically, Charles Schwab marketed the funds as "a safe
alternative to money market funds" that would provide "higher potential returns
than money market funds, with only marginally higher risk." Notwithstanding
those representations, investors have lost approximately $1.3 billion in the
YieldPlus funds, with a decrease of approximately 25% during the first quarter
of 2008 alone. That performance is far worse than that of money market funds and
other ultra-short bond funds during the same period. Dimond Kaplan & Rothstein
believes that the losses were caused by mismanagement of the funds. Among other
things, the YieldPlus funds apparently were over-concentrated in risky
mortgage-backed securities that contained subprime loans.

Dimond Kaplan & Rothstein continues to investigate the funds and expects to file
additional cases on behalf of other investors. The firm urges investors to
consider pursuing an arbitration claim as opposed to participating in a class
action. Investors who participate in class actions often recover only pennies on
the dollar, whereas those filing arbitration claims may recover substantially
more than that. Further, unlike a class action, an arbitration claim allows you
to: (1) choose your own lawyer; (2) present the unique facts of your case to an
arbitration panel; (3) control the decision whether to settle your case and for
how much; and (4) secure a result within approximately twelve months, as opposed
to potentially years with a class action.

Dimond Kaplan & Rothstein, P.A. is an AV-Rated law firm that represents
investors nationwide in stockbroker misconduct and investment fraud cases. The
firm has represented investors against most major Wall Street brokerage firms in
claims involving stocks, bonds, options, auction rate securities, hedge funds,
and mutual funds. If you suffered YieldPlus losses, please contact Jeffrey
Kaplan, Esq. of Dimond Kaplan & Rothstein, P.A. at (888) 578-6255 or
jkaplan@dkrpa.com for a free case evaluation. You also may visit the firm on the
web at www.dkrpa.com or www.investmentfraud-lawyer.com.

The Dimond Kaplan & Rothstein, P.A. logo is available at
http://www.primenewswire.com/newsroom/prs/?pkgid=4684

More information is available at www.subprimelosses.com or by contacting an
attorney.

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CONTACT: Dimond Kaplan & Rothstein, P.A.
Jeffrey Kaplan, Esq.
(888) 578-6255
jkaplan@dkrpa.com