NOTICE TO UPS EMPLOYEES: Klayman & Toskes, P.A. Continues to Investigate & Pursue Claims on Behalf of Current & Former UPS Em...
October 05 2017 - 2:39PM
Business Wire
The Securities Arbitration Law Firm of Klayman & Toskes,
P.A. (“K&T”), www.nasd-law.com, continues to investigate claims
for current and former UPS (NYSE:UPS) employees for losses
sustained from unsuitable covered call writing strategies for
concentrated UPS stock positions.
In a recently filed FINRA claim [FINRA Case No. 17-00613], the
Claimant, who worked with UPS for 31 years and accumulated more
than 13,600 shares of the company’s shares, invested his shares
after UPS went public. As a part of the investment strategy that
was recommended to him, a hypo loan collateralized by his shares
was taken and a call writing strategy was employed which lead to
the Claimant losing his shares. The Claimant’s specific investment
objective was not to lose his shares, which the firm assured him he
would not. More importantly, the Claimant was earning much needed
quarterly dividends, which he relied upon in his retirement. The
strike prices that the stock was sold at were far too low given
market conditions, and the firm failed to buy back the call
options. These recommendations led to the Complainant losing all
his shares as well as his much-needed dividend payments.
The sole purpose of this release is to investigate whether the
covered call strategies deployed by investment firms were suitable
for UPS investors with concentrated stock positions which were
acquired through Managers Incentive Programs. Current and former
UPS employees who held accounts at full-service brokerage firms,
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.
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Klayman & Toskes, PALawrence L. Klayman, Esq.,
888-997-9956lklayman@nasd-law.comwww.nasd-law.com
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