Complaints About Schwab Message Board

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Non-Tech : Complaints About Schwab

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To: scaram(o)uche who wrote (35)	2/22/1999 10:08:00 PM
From: KM	Read Replies (2) of 196

Monday February 22, 7:22 pm Eastern Time Schwab faces suit seeking class status - law firm NEW YORK, Feb 22 (Reuters) - Charles Schwab Corp. (NYSE:SCH - news), the world's largest discount stock brokerage, was named in a shareholder lawsuit for allegedly failing to give its clients the best buy or sell prices, the law firm representing the plaintiffs said on Monday. Investors who bought or sold shares through their Schwab accounts starting Feb. 1, 1996, allege that Schwab ''knowingly and/or recklessly'' executed market orders ''at consistently disadvantageous prices,'' the firm said in a statement. Schwab could ''easily and inexpensively'' access a number of systems that ''frequently provide better prices for the execution of sell or buy orders,'' Wolf Haldenstein Adler Freeman & Herz LLP added in a prepared statement. The suit, seeking class action status, was filed in the federal court in the U.S. Virgin Islands. Schwab officials could not be reached for comment. Law firm executives were unavailable to elaborate.

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