Securities Arbitration Law Firm of Klayman & Toskes, P.A. Continues Investigation and Law Suit Seeking More Than $97 Million Aga
29 Octobre 2003 - 6:09PM
PR Newswire (US)
Securities Arbitration Law Firm of Klayman & Toskes, P.A.
Continues Investigation and Law Suit Seeking More Than $97 Million
Against Former Unit of FleetBoston BOCA RATON, Fla., Oct. 29
/PRNewswire/ -- The law firm of Klayman & Toskes, P.A.
("K&T") (http://www.nasd-law.com/), continues to pursue a claim
for damages in excess of $97 million before the New York Stock
Exchange ("NYSE") filed on behalf of an investor with a
concentrated stock position against Robertson Stephens, a former
unit of FleetBoston Financial Corporation , and others. On Monday,
Bank of America Corp. announced plans to purchase FleetBoston for
$43 billion in stock, which will result in the creation of the
second largest banking company in the U.S. K&T represents large
shareholders with concentrated stock positions in the technology
and telecommunications industries. The claims focus on the
mismanagement of the concentrated portfolios due to the fact that
risk management strategies that were available were not employed.
In fact, many investors could have protected the value of their
concentrated portfolios with the use of a simple option strategy
known as a "zero cost" collar. The sole purpose of this release is
to investigate, on behalf of our clients, sales practice violations
of licensed brokers at major Wall Street brokerage firms. K&T
is pursuing arbitration suits before the New York Stock Exchange
and the National Association of Securities Dealers for securities
violations including the misuse of stock option plans, failure to
supervise, unsuitability claims, misrepresentation and material
omissions of fact. We would greatly appreciate any information from
investors concerning the method or process used to manage their
concentrated holdings. K&T has offices in California, Florida
and New York and represents investors throughout the nation. If you
wish to discuss this announcement or have information relevant to
our lawsuits, please contact Lawrence L. Klayman, Esquire of
Klayman & Toskes, P.A., 888-997-9956 or visit us on the web at
http://www.nasd-law.com/ . Website: http://www.nasd-law.com
DATASOURCE: Klayman & Toskes, P.A. CONTACT: Lawrence L.
Klayman, Esquire of Klayman & Toskes, P.A., +1-888-997-9956
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