The novel coronavirus is spreading rapidly across Texas, with more than 30 cases reported statewide as of March 12th. There is yet another case in the Dallas-Fort Worth metroplex that is yet to be confirmed, if internet reports from those close to the Charles Schwab corporate offices in Westlake, Texas are to be believed.

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Update 3/12/20: Charles Schwab denies Reddit reports that there is a confirmed case.

There is actually no confirmed case at this time, and we are taking every precaution to protect our employees. — Charles Schwab Corp (@CharlesSchwab) March 12, 2020

The original story is as follows…

The original reports surfaced on the sketchy-and-vulgar “wallstreetbets” forum on Reddit, which is known for its reckless gambling-like approach to investing advice and gallows humor. The original rumor suggested that employees at both Charles Schwab and Fidelity offices in Westlake, TX had confirmed cases, but it appears that claims about the Fidelity offices are baseless.

Charles Schwab seemingly sent out a letter to employees at its Westlake, TX offices on Wednesday, March 11. Multiple commenters corroborated the story about a case at the Charles Schwab offices, and yet another corroborated the claims on the /r/Dallas subreddit.

One Reddit user further suggested the Fidelity rumors to be baseless, citing a significant other that works at those offices. We preserved that comment in the screenshot below. This user corroborated the Charles Schwab case, but was notified by their own employer — a nearby brokerage firm. Another commenter said their friend works at the Charles Schwab Westlake office and also “messaged this morning that his office as a case of COVID-19.”





Redditors are rightfully wary to believe rumors in a forum like /r/wallstreetbets, but yet another user of the /r/Dallas forum on Reddit has corroborated the Charles Schwab case, saying that their parent works for Citi and was also notified about the case.