The Securities Arbitration Law Firm of Klayman & Toskes (“K&T”), www.nasd-law.com, announced today that it filed a securities arbitration claim against Merrill Lynch on behalf of a UPS (NYSE: UPS) employee for mismanaging the Claimant’s concentrated, leveraged position in UPS stock. The suit was filed with FINRA’s arbitration department and seeks damages of $300,000.
According to the Claim, the Claimant worked over 25 years with UPS and accumulated a concentrated position in UPS stock through UPS’ Employee Stock Purchase Plan and Managers Incentive Program. This case is about Merrill Lynch’s mismanagement of the Claimant’s concentrated, leveraged stock position which led to the forced liquidation of over 3,000 shares of UPS stock. This event triggered a sizable tax bill for the Claimant and eliminated the ability of the stock to rebound in value following a significant decline in 2008 and into 2009 as well as the dividends Claimant could have received from the shares.
The sole purpose of this release is to investigate, on behalf of our clients, the sales practices of Merrill Lynch in connection with the handling of concentrated, leveraged stock portfolios for UPS employees. Current and former UPS employees who held accounts with Merrill Lynch and have information relating to the manner in which the firm handled their concentrated, leveraged portfolios, are encouraged to contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956, or visit us on the web at
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV