NOTICE TO UPS EMPLOYEES WITH MERRILL LYNCH ACCOUNTS: Klayman & Toskes, P.A. Files Claim for $500,000 Against Merrill Lynch on Behalf of Former UPS Employee Who Sustained Losses from Unsuitable Covered Call Writing Strategies

BOCA RATON, Fla., Jan. 26, 2018 -- The Securities Arbitration Law Firm of Klayman & Toskes, P.A. (“K&T”), www.nasd-law.com, announced today that it 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, leveraged 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-files-claim-for-500000-against-merrill-lynch-on-behalf-of-former-ups-employee-who-sustained-losses-from-unsuitable-covere/

Contact:
Klayman & Toskes, PA
Lawrence L. Klayman, Esq.
888-997-9956
[email protected]
www.nasd-law.com