NEW YORK, March 13, 2017 (GLOBE NEWSWIRE) -- The securities arbitration law firm of Klayman & Toskes, P.A.
("K&T"), www.nasd-law.com, has filed a $1,000,000 FINRA arbitration claim [FINRA Case No. 17-00599] on
behalf of retired United Parcel Service (“UPS”) (NYSE:UPS) employee for losses suffered as a result of Merrill Lynch’s unsuitable
recommendation to invest in Rampart Strategy.
According to K&T, the investigation focuses on Merrill Lynch’s sales practices for customers who acquired
UPS stock through UPS’ Employee Stock Purchase Plan or Managers Incentive Program and were advised by Merrill Lynch to implement a
covered call strategy on their concentrated UPS stock position through Merrill Lynch’s Rampart Strategy.
Securities attorney Steven D. Toskes from K&T explains, “The covered call strategy implemented by Merrill
Lynch through Rampart was unsuitable since the strike price of the call option was either too close to the current share
price of UPS or below the then current price." Mr. Toskes continues, “The close proximity of the share price and strike price
of UPS virtually ensured that the stock would get called away or it would be very expensive to buy back the option. Our
client accumulated low cost basis stock during the 29 years they worked for UPS and did not want to have their stock 'called away'
and trigger a large capital gains tax.”
K&T continues to represent UPS employees who invested in the Rampart Strategy against Merrill Lynch for
FINRA sales practice violations, including unsuitable recommendations, misrepresentations and omissions of material facts and failure to supervise. Investors who
have information about the sales practices of brokerage firms and their financial advisors are encouraged to contact Lawrence L.
Klayman, Esq. or Steven D. Toskes, Esq. of Klayman & Toskes at (888) 997-9956, or visit our 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-ups-employeesshareholders-klayman-toskes-p-a-files-1000000-finra-arbitration-claim-on-behalf-of-retired-ups-employee-for-losses-suffered-as-a-result-of-merrill-lynchs-unsui/
Contact: Klayman & Toskes, P.A. Lawrence L. Klayman, Esq. Steven D. Toskes, Esq. (888)-997-9956 info@nasd-law.com www.nasd-law.com
![Primary Logo](https://resource.globenewswire.com/Resource/Download/5132d75e-d88f-40f3-93c2-e6faaa35c219?size=1)
![](http://www.globenewswire.com/newsroom/ti?ndecode=MTg0IzY3MDk3NDA=)