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 Employees17:34 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