Pinkert

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA San Francisco Division PHILIP PINKERT, on behalf of himself and Case No. 20-cv-07657-LB all others similarly situated, ORDER GRANTING DEFENDANTS’ Plaintiff, MOTIONS TO DISMISS 13 v. Re: ECF Nos. 54, 55 14 SCHWAB CHARITABLE FUND, et al., 15 Defendants. 16 INTRODUCTION Schwab Charitable Fund is a nonprofit 501(c)(3) public charity that sponsors a donor-advised fund. The fund allows donors to make tax-deductible charitable donations to the fund and advise how the funds are invested (in investment pools selected by the fund) and distributed to charities. The plaintiff is a donor to the fund. The defendants are Schwab Charitable (and its board of directors and investment-oversight committee) and Charles Schwab & Co. The plaintiff objects to Schwab Charitable’s choice of investment pools (because there are cheaper options available) and its payment of excessive fees for custodial and…