Notice to Merrill Lynch Clients with Rampart Options Management Services Program: Klayman & Toskes, P.A. Continues to Pursue ...
June 28 2016 - 1:44PM
The Securities Arbitration Law Firm of Klayman & Toskes, P.A.
(“K&T”), www.nasd-law.com, announced today that it is
continuing to pursue a $1,000,000 FINRA arbitration claim against
Merrill Lynch [FINRA Case No. 16-01593] on behalf of UPS (NYSE:UPS)
employee for losses sustained from an unsuitable recommendation to
invest in the Rampart Options Management Services Program
(“Rampart”).
The Claimant worked for over 23 years with UPS
and accumulated shares of the company through UPS’ Employee Stock
Purchase Plan and Managers Incentive Program, according to the
Claim. Merrill Lynch and its financial advisor recommended
Rampart to facilitate the unsuitable investment strategy of selling
covered call options on the UPS stock to produce income.
Securities attorney Steven D. Toskes explains, "Merrill Lynch’s
recommendation to utilize Rampart’s strategy was unsuitable
investment advice. Our client is a UPS investor with low cost
basis stock who did not want to have their UPS position 'called
away' and trigger a large capital gains tax.”
Merrill Lynch advised the sale of call options
at strike prices that were far too low given market conditions and
failed to buy back the options to ensure the stock was not called
away. Claimant lost over 3,800 shares of his UPS stock as a
result of Merrill Lynch’s failure to recommend suitable options
strategies for concentrated stock positions.
If you are a current or former UPS employee with
a Merrill Lynch account that used Rampart’s services, and wish to
discuss this announcement or have relevant information relating to
the manner in which the firm handled concentrated portfolios,
please contact Lawrence Klayman, Esq. or Steven D. Toskes, Esq. of
Klayman & Toskes, P.A., in furtherance of our investigation 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 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-merrill-lynch-clients-with-rampart-options-management-services-program-klayman-toskes-p-a-continues-to-pursue-1000000-finra-arbitration-claim-on-behalf-of-ups-employee-for-mismanagem/
Contact:
Klayman & Toskes, PA
Lawrence Klayman, Esq.
Steven D. Toskes, Esq.
888-997-9956
lklayman@nasd-law.com
stoskes@nasd-law.com
www.nasd-law.com
United Parcel Service (NYSE:UPS)
Historical Stock Chart
From Mar 2024 to Apr 2024
United Parcel Service (NYSE:UPS)
Historical Stock Chart
From Apr 2023 to Apr 2024