If you have lost money in the stock market due to fraud, misrepresentation, negligence, or for other reasons, we can help you. We have successfully recovered over $250 million in FINRA securities arbitrations.*
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Our law firm is handling claims on behalf of investors who sustained losses in Bank of America stock (NYSE: BAC) (“BofA”), held in full service brokerage accounts. Trading at almost $18.00 per share in August of 2009, BofA has declined about 62%. The stock was trading above $50 per share just four years ago in 2007.
Investors who held BofA stock at a full service brokerage firm and sustained substantial losses, including those who held a concentrated position in BofA, may be able to recover their losses through the arbitration forum established by the Financial Industry Regulatory Authority (“FINRA”). FINRA’s Arbitration Department is where investors, both retail and institutional, go to seek redress as a result of sales practice violations committed by their brokerage firm, including claims of over-concentration, misrepresentation and omission, unsuitable recommendations and failure to supervise.
Since 2000, KlaymanToskes has pioneered the representation of High Net Worth (“HNW”) and Ultra-HNW clients who sustained investment losses as a result of holding concentrated positions in a single security or sector, in a full-service brokerage account. The claims deal with the mismanagement of the clients’ portfolios given the fact that there were risk management strategies that would have protected the value of the concentrated portfolio. Such risk management strategies include stop loss and limit orders, protective puts and collars. Stop loss orders, limit orders and protective puts provide an account with downside protection and an exit strategy should the stock decline in value. A hedge strategy, known as a “zero cost” collar, would have created a range of value that the portfolio would have maintained irrespective of the fluctuation and direction of the underlining stock price. The failure to use risk management strategies as well as the failure to “hedge” the value of a concentrated portfolio directly exposes an investor’s concentrated position to the fluctuations in the volatile securities markets.
Investors who held BofA stock with a full service brokerage firm and sustained significant losses can contact KlaymanToskes to explore their legal rights and options.