The Securities Arbitration Law Firm of Klayman & Toskes (“K&T”), www.nasd-law.com, announced today that it filed a $1.5 million securities arbitration claim against Wachovia Securities n/k/a Wells Fargo Advisors (“Wachovia”) on behalf of a UPS (NYSE: UPS) employee for losses sustained as a result of maintaining a concentrated, leveraged position in UPS stock. The suit was filed with FINRA’s arbitration department. According to the Claim, the Claimant worked over 34 years with UPS and accumulated shares of the company through UPS’ Employee Stock Purchase Plan and Managers Incentive Program. The Claimant opened a Hypothecation Loan (“hypo loan”) whereby his UPS stock served as collateral which allowed him to have access to liquid money. After being solicited by a representative of Wachovia, the Claimant moved his UPS stock to Wachovia. Wachovia paid off the hypo loan and replaced it with a conventional margin loan. While Wachovia loaned the Claimant money using the UPS stock as collateral, Wachovia failed to recommend a collar and/or protective put option as a risk management strategy to protect the Claimant’s concentrated position in UPS stock. A collar and/or protective put option would have prevented a margin call on the loan when the UPS stock substantially declined below the loan-to-value ratio. Wachovia, looking to make money on the loan, facilitated the unsuitable investment strategy of borrowing against a concentrated stock position without a collar and/or protective put option in place. By failing to protect the concentrated position and/or recommend risk management strategies, the Claimant received a margin call which triggered the sale of UPS stock. The sole purpose of this release is to investigate, on behalf of our clients, the sales practices of Wachovia Securities in connection with the handling of concentrated, leveraged stock portfolios for UPS employees. Current and former UPS employees who held an account with the brokerage firm Wachovia Securities n/k/a Wells Fargo Advisors, and have information relating to the manner in which Wachovia handled their concentrated, leveraged portfolio, 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 http://www.nasd-law.com.