In re Charles Schwab Corp. Securities Litigation

Filing 1149

ORDER APPROVING RE-ISSUANCE OF DISTRIBUTION CHECK TO CLASS MEMBER SCHROEDER [re (1147 in 3:08-cv-01510-WHA) Response ( Non Motion ) filed by YieldPlus Investor Group, (1144 in 3:08-cv-01510-WHA) Letter ]. Signed by Judge William Alsup on 5/7/2012. (whasec, COURT STAFF) (Filed on 5/7/2012)

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IN THE UNITED STATES DISTRICT COURT

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FOR THE NORTHERN DISTRICT OF CALIFORNIA
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IN RE:

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CHARLES SCHWAB CORPORATION
SECURITIES LITIGATION.

No. C 08-01510 WHA

This Document Relates to
All Cases.
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ORDER APPROVING
RE-ISSUANCE OF DISTRIBUTION
CHECK TO CLASS
MEMBER SCHROEDER

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For the Northern District of California

United States District Court

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Class member John W. Schroeder requests re-issuance of his distribution check in the

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amount of $3,309.54 (Dkt. No. 1144). According to Mr. Schroeder, his payment was delayed due

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to several check-mailing mishaps. It appears Mr. Schroeder moved two times in 2011 and,

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following his request for re-issuance, was away from home for an extended period and thus

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unable to cash the check within the thirty-day void period. Class counsel was directed to respond

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to Mr. Schroeder’s request and to propose a solution.

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Class counsel now responds, requesting that the Court permit the class administrator to

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“deviate from the [o]rder setting the 30-day void [of distribution checks] and reissue a check to

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Mr. Schroeder” (Dkt. No. 1147). Class counsel confirms that there are sufficient funds available

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in reserve to make this payment.

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The uncommon circumstances delaying Mr. Schroeder’s payment support class counsel’s

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recommendation. Accordingly, the class administrator is hereby directed to issue a new check to

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Mr. Schroeder in the amount of $3,309.54. Because Mr. Schroeder’s claim was not eligible for a

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residual distribution payment, no residual distribution is required (Joaquin Decl. ¶ 7).

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IT IS SO ORDERED.
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Dated: May 7, 2012.

WILLIAM ALSUP
UNITED STATES DISTRICT JUDGE