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Share Name | Share Symbol | Market | Type |
---|---|---|---|
United Parcel Service | NYSE:UPS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.5769 | 0.39% | 147.9669 | 148.72 | 146.81 | 146.83 | 2,607,559 | 01:00:00 |
According to the Claim, the Claimant worked over 33 years with UPS and accumulated shares of the company through UPS’ Employee Stock Purchase Plan and Managers Incentive Program. Merrill Lynch and its financial advisor facilitated the unsuitable investment strategy of selling covered call options on the UPS stock to produce income, despite Claimant’s investment objective and desire to hold onto his UPS stock. Merrill Lynch sold 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. The consequence of Merrill Lynch not buying back the call options resulted in Claimant losing over 33,000 shares of his UPS stock, which took his entire career to accumulate.
We are currently investigating whether the covered call strategies deployed by Merrill Lynch and other investment firms were suitable for investors with concentrated stock positions which were acquired through Managers Incentive Programs or Employee Stock Purchase Programs. Current and former UPS employees who held accounts with Merrill Lynch, or other full-service brokerage firms, and have information relating to the manner in which the firm handled their concentrated, leveraged portfolios, are encouraged to contact Steven D. Toskes, Esq. or Raymond Gentile, Esq. 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 and multi-employer pension funds. K&T has office locations in California, Florida, New York and Puerto Rico.
Destination: http://nasd-law.com/investor-alert-the-securities-arbitration-law-firm-of-klayman-toskes-p-a-continues-its-investigation-and-files-claim-on-behalf-of-ups-employee-for-losses-sustained-from-unsuitable-covered-call-wr/
Contacts Klayman & Toskes, P.A. Steven D. Toskes, Esq. or Raymond Gentile, Esq. (888)-997-9956 www.nasd-law.com
1 Year United Parcel Service Chart |
1 Month United Parcel Service Chart |
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