Charles Schwab Corp. said it has agreed to pay $200 million to settle a federal class-action lawsuit related to its YieldPlus ultra-short bond fund.

The discount broker said that without admitting liability, the deal "allows the company to avoid the distraction and uncertainty of a trial and the further possibility of a protracted appeals process."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.