March 28, 2016 - The court ordered the authorization of the distribution of the net settlement fund.
March 11, 2016 - The court approved the settlement.

November 23, 2015 - The court preliminarily approved the settlement.

June 4, 2015 - Parties filed a stipulation of settlement.

March 26, 2010 - Defendants filed motions to dismiss.

November 20, 2009 - The lead plaintiff filed an amended complaint.

September 28, 2009 - Lead plaintiff and lead counsel were appointed.

January 26, 2009 - Lead plaintiff motions were filed.

November 25, 2008 - An investor in shares of the Reserve Yield Plus Fund (NASDAQ: RYPYX, NASDAQ: RYPTX, NASDAQ: RYPJX, NASDAQ: RYPQX) filed a lawsuit in the U.S. District Court for the Southern District of New York on behalf of investors of certain mutual funds offered by the Reserve Short-Term Investment Trust including the Reserve Yield Plus Fund (NASDAQ: RYPYX; NASDAQ: RYPTX; NASDAQ: RYPJX; NASDAQ: RYPQX) during the period from July 27, 2007 to September 16, 2008, including purchasers and holders in connection with the July 27, 2007 offering over alleged violations of the Securities Act of 1933, the Securities Exchange Act of 1934 and the Investment Company Act of 1940 by the Reserve Short-Term Investment Trust, its parent and affiliates, certain of its officers and trustees and TD Ameritrade Holding Corp.

According to the complaint the plaintiff alleges that the Reserve Short-Term Investment Trust, its parent and affiliates, certain of its officers and trustees and TD Ameritrade Holding Corp. violated the Securities Act of 1933, the Securities Exchange Act of 1934 and the Investment Company Act of 1940. Specifically, so the lawsuit, on July 27, 2007, the Reserve Short-Term Trust filed with the SEC a Registration Statement on Form N-1A, a Prospectus and Statement of Additional Information, where the Prospectus emphasized the Fund’s focus was to “seek as high a level of current income as is consistent with the preservation of capital and liquidity” and a “stable $1.00 share price.” The Fund later issued reports characterizing the Fund as being an “enhanced cash fund” and emphasizing the Fund’s focus on “safety of principal, liquidity and soundness of sleep.”

The complaint alleges that due to defendants’ positive, but false, statements, investors purchased and/or continued to hold shares in the Fund and among other things the complaints alleges that on September 16, 2008, the NAV of the Reserve Yield Plus Fund collapsed from $1.00 per share to close at $0.97 due to its investment in debt securities issued by Lehman and thereafter, the Reserve Short-Term Trust suspended providing a daily NAV on the Reserve Yield Plus Fund.