Wolf Popper LLP
Wolf Popper LLP Announces Filing of Class Action Against the Schwab Total Bond Market Fund (SWLBX;SCHW)
NEW YORK – September 2, 2008 – Wolf Popper LLP has filed a class action lawsuit on behalf of investors in the Schwab Total Bond Market Fund (SWLBX) in the United States District Court for the Northern District of California. The case has been assigned Civil Action No. C 08 4119 SI.
The action is brought against the Fund, and affiliated entities, for deviating from the Fund’s fundamental investment objective to track the Lehman Brothers U.S. Aggregate Bond Index.
The Fund deviated from its stated investment objective by investing in high risk non-U.S. agency collateralized mortgage obligations (“CMOs”). The non-U.S. agency CMOs were not part of the Lehman Index and were substantially more risky than the U.S. agency securities and other instruments that comprised the Index. The Fund also deviated from its stated fundamental investment objective by investing more than 25% of its total assets in U.S. agency and non-agency mortgage-backed securities.
The Fund’s deviation from its stated investment objective caused it to substantially deviate from the Lehman Index and caused substantial injury to its shareholders.
Investors in the Schwab Total Bond Market Fund are urged to speak with the following attorney for more information concerning the action:
Robert C. Finkel, Esq.
Wolf Popper LLP
845 Third Avenue
New York, NY 10022
877.370.7703
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