The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

The Securities Arbitration Law Firm of Klayman & Toskes Files $300,000 Claim Against Merrill Lynch on Behalf of a UPS Employee As It Continues To Investigate Claims on Behalf of Current and Former UPS Employees

Friday, September 13, 2013

The Securities Arbitration Law Firm of Klayman & Toskes Files $300,000 Claim Against Merrill Lynch on Behalf of a UPS Employee As It Continues To Investigate Claims on Behalf of Current and Former UPS Employees

17:34 EDT Friday, September 13, 2013

NEW YORK (Business Wire) -- 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 www.nasd-law.com.

Klayman & Toskes, P.A.
Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire, 888-997-9956

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections