In Pinkert v. Schwab Charitable Fund,1 Philip Pinkert sued the Schwab Charitable Fund (the Fund) and the Charles Schwab Corporation (the Corporation), alleging the Fund breached its fiduciary duty by making imprudent investments with his contributions to a donor-advised fund (DAF) and charging him grossly excessive administrative fees. This resulted in a diminished performance of the DAF, reducing Philip’s capacity to fulfill his philanthropic aims.
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