National investment loss lawyers KlaymanToskes continues its investigation of brokerage and investment advisory firms, as well as brokers/investment advisors who made unsuitable covered call writing strategy recommendations for McDonald’s shareholders, including current and former executives, franchisees, employees, suppliers and others, who held large positions in Mcdonalds (NYSE: MCD).
A former McDonald’s franchisee was recently awarded over $475,000 in compensatory and other damages due to the misconduct of Wells Fargo and their broker, related to a failed McDonald’s (NYSE: MCD) covered call options trading strategy. KlaymanToskes is investigating other brokerage/investment advisory firms for similar misconduct related to Mcondald’s covered call options investment losses.
Brokerage/advisory firms and their brokers/investment advisors have a duty to disclose material facts concerning their investment recommendations, including those involving risky options strategies. A firm’s misrepresentation or omission of material facts concerning investment recommendations is a sales practice violation, and is a basis for liability in a FINRA arbitration claim.
McDonald’s shareholders who sustained significant losses as a result of unsuitable trading at the hands of their brokerage firm/financial advisor are encouraged to contact attorney Lawrence L. Klayman at (888) 997-9956 or lklayman@klaymantoskes.com for a free consultation. We do not collect attorneys fees unless we are able to obtain a financial recovery for you.
A former McDonald’s franchisee has been awarded $450,000 in compensatory damages along with $25,000 in costs after a Financial Industry Regulatory Authority (“FINRA”) arbitration panel found Wells Fargo and broker/investment advisor Frederick Robert Hughes jointly and severally liable for the customer’s investment losses due to a failed McDonalds (NYSE: MCD) covered call options trading strategy.
The customer is a retired McDonald’s franchisee, who at one point operated five McDonald’s franchises during his 43-year long career with the company. He also accumulated approximately 3,357 shares of McDonald’s stock. The customer’s wishes were that upon his passing, his son would stand to inherit the shares he accumulated over his lifetime of hard work at McDonald’s.
Wells Fargo and Hughes sold calls on the customer’s McDonald’s common stock shares, which deprived the customer of substantial future gains on his investments. Additionally, when the customer’s shares were called away, he incurred large capital gains due to the misconduct of the firm and his broker Frederick Hughes.
According to securities attorney Lawrence L. Klayman, “Current and former McDonald’s employees who were forced to sell their stock, triggering a significant tax liability from low cost basis stock and/or paying a substantial amount of money to buy back their MCD stock from an unsuitable covered call options strategy, may be entitled to a financial recovery.”
McDonald’s shareholders who sustained significant losses as a result of unsuitable trading at the hands of their brokerage firm/financial advisor are encouraged to contact attorney Lawrence L. Klayman at (888) 997-9956 or lklayman@klaymantoskes.com for a free consultation. We do not collect attorneys fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com