NOTICE TO UPS EMPLOYEES WITH MERRILL LYNCH ACCOUNTS: Klayman & Toskes, P.A. Continues to Investigate & Pursue Claims on Behal...
03 Février 2018 - 3:59PM
Business Wire
The Securities Arbitration Law Firm of Klayman & Toskes,
P.A. (“K&T”), www.nasd-law.com, continues to investigate and
pursue claims for current and former UPS (NYSE:UPS) employees with
Merrill Lynch accounts, for losses sustained from unsuitable
covered call writing strategies for concentrated UPS stock
positions. K&T recently filed a claim against Merrill Lynch on
behalf of a former UPS (NYSE:UPS) employee for losses sustained
from unsuitable covered call writing strategies for concentrated
UPS stock positions.
According to the claim, the Claimant, worked with UPS for 31
years. He accumulated more than 29,000 shares through the UPS’s
Employee Stock Purchase Program and the Manager Incentive Program.
He invested his shares with Merrill Lynch, who recommended a call
writing strategy, to earn present income. The strategy was
improperly implemented, and it lead to the Claimant losing
thousands of his shares. The Claimant’s specific investment
objective was not to lose his shares, which he was assured he would
not. More importantly, the Claimant was earning much needed
quarterly dividends, which he relies upon in his retirement. The
strike prices that the call options were sold at were far too low
given market conditions, and the firm failed to buy them back.
These recommendations led to the Claimant losing thousands of his
shares as well as a significant portion of his much-needed dividend
payments.
The sole purpose of this release is to investigate the sales
practices of Merrill Lynch for FINRA sales practice violations
including: unsuitable recommendations, misrepresentation and
omissions of material facts, and failure to supervise. Current and
former UPS employees who held accounts at Merrill Lynch, and have
information relating to the manner in with the firm handled their
concentrated portfolios, are encouraged to contact the attorneys of
Klayman & Toskes, P.A., at (888) 997-9956, or visit our firm’s
website at www.nasd-law.com.
About Klayman & Toskes, P.A.
K&T is a leading national securities law firm which
practices exclusively in the field of securities arbitration and
litigation on behalf of retail and institutional investors
throughout the world in large and complex securities matters. The
firm represents high net-worth, ultra-high net-worth, and
institutional investors, such as non-profit organizations, unions,
public pension funds, and multi-employer pension funds. K&T has
office locations in California, Florida, New York, and Puerto
Rico.
Destination:
http://nasd-law.com/notice-to-ups-employees-with-merrill-lynch-accounts-klayman-toskes-p-a-continues-to-investigate-and-pursue-claims-on-behalf-of-ups-employees-who-sustained-losses-from-unsuitable-covered-call-wri/
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version on businesswire.com: http://www.businesswire.com/news/home/20180203005043/en/
Klayman & Toskes, PALawrence L. Klayman, Esq.,
888-997-9956lklayman@nasd-law.comwww.nasd-law.com
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