NOTICE TO UPS EMPLOYEES: Klayman & Toskes, P.A. Continues to Investigate & Pursue Claims on Behalf of UPS Employees Who Susta...
January 09 2018 - 4:44PM
Business Wire
The Securities Arbitration Law Firm of Klayman & Toskes,
P.A. (“K&T”), www.nasd-law.com, continues to investigate and
pursue claims for current and former UPS (NYSE: UPS) employees for
losses sustained from unsuitable covered call writing strategies
for concentrated UPS stock positions. The investigation focuses on
firms’ sales practices for customers who acquired UPS stock through
UPS’s Employee Stock Purchase Plan or Managers Incentive Program
and were advised to implement a covered call strategy on their
concentrated UPS stock position.
K&T continues to bring claims on behalf of clients who are
current or former UPS employees, who held concentrated positions in
UPS stock. UPS employees received their shares at a low cost-basis
as a form of compensation, and firms solicited them to employ a
covered-call strategy that promised present income. UPS employees
often have no desire to lose their shares that they worked so hard
to acquire. UPS employees also wanted to keep their shares, because
the shares produced consistent dividends, and the shares have a
history of appreciation. In many instances the covered call
strategy failed. Wall Street brokerage firms, in their
implementation of the covered call strategy sold options with
strike prices that were too close to the market value of the
shares, sometimes while the shares were “in the money.” The
strategy placed investors in a precarious position of either losing
their shares or having to pay a significant sum to buy-back their
stock. Further, the sale of such large positions typically ended in
significant tax liability to investors.
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 the Employee Stock Purchase Plan and/or 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.
http://nasd-law.com/notice-to-ups-employees-klayman-toskes-p-a-continues-to-investigate-and-pursue-claims-on-behalf-of-ups-employees-who-sustained-losses-from-unsuitable-covered-call-writing-strategies-2/
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180109006756/en/
Klayman & Toskes, PALawrence L. Klayman, Esq.,
888-997-9956lklayman@nasd-law.comwww.nasd-law.com
United Parcel Service (NYSE:UPS)
Historical Stock Chart
From Aug 2024 to Sep 2024
United Parcel Service (NYSE:UPS)
Historical Stock Chart
From Sep 2023 to Sep 2024