ATTENTION UPS EMPLOYEES WITH RAMPART ACCOUNTS AT MERRILL LYNCH: KlaymanToskes Continues to Investigate Claims for UPS Employees with Losses from Unsuitable Covered Call Writing Strategies

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ATTENTION UPS EMPLOYEES WITH RAMPART ACCOUNTS AT MERRILL LYNCH:  KlaymanToskes Continues to Investigate Claims for UPS Employees with Losses from Unsuitable Covered Call Writing Strategies

KlaymanToskes (“KT”), www.klaymantoskes.com, continues to investigate and pursue FINRA arbitration claims against Merrill Lynch on behalf of UPS (NYSE: UPS) employees for losses sustained from an unsuitable recommendation to invest in the Rampart Options Management Services Program (“Rampart”).

According to multiple FINRA claims, Merrill Lynch employed an unsuitable covered call writing strategy. After hard-working UPS employees accumulated thousands of UPS shares through UPS’s Employee Stock Purchase Program and the Manager Incentive Program, they were solicited to invest with Merrill Lynch.  Merrill Lynch and its financial advisors recommended Rampart to facilitate the unsuitable investment strategy of selling covered call options on the UPS stock to produce income.  The strategy was improperly implemented, and it led to UPS employees losing thousands of shares or significant amounts of money buying back the shares.  The UPS employees did not want to lose shares, which they were assured they would not.  More importantly, the shares paid out much needed quarterly dividends, which are relied upon in retirement.  Further, the sale of such large positions typically ended in significant tax liability to investors.

The sole purpose of this release is to investigate the sales practices of Merrill Lynch for its recommendation to engage in an unsuitable covered call writing strategy through Rampart or directly with a Merrill Lynch financial advisor. Current and former UPS employees who held accounts at Merrill Lynch and have information relating to the manner in which the firm handled their concentrated portfolios, are encouraged to contact Lawrence L. Klayman, Esq., at (561) 542-5131, and download our Special Investor Report.

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