What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: June 16, 2016

Stoltmann Law Offices is interested in speaking to those individuals who may have sustained investment losses in the Rampart Options Management Services Program (Rampart) with Merrill Lynch. A customer is seeking damages of $500,000 for losses sustained from an unsuitable recommendation to invest in Rampart. The customer worked over 23 years with UPS and accumulated shares of the stock through the UPS Employee Stock Purchase Plan and Manager Incentive Program. The financial advisor and Merrill Lynch recommended Rampart to facilitate the unsuitable investment strategy of selling covered call options on the UPS stock to produce income. The recommendations was unsuitable for a UPS investor with low cost basis stock who did not want to have UPS stock “called away” and trigger a large capital gains tax. Merrill Lynch advised the sale of call options at strike prices that were too low given market conditions and failed to buy back the options to ensure the stock was not called away. Because of this, the customer lost over 3,800 shares of his stock as a result of Merrill Lynch’s failure to recommend suitable options strategies for concentrated stock positions.

If you are a current or former UPS employee who has suffered investment losses in a Merrill Lynch account that used Rampart, please call our law offices at 312-332-4200 to speak to an attorney. We may be able to help you recover your investment losses by suing Merrill Lynch in the Financial Industry Regulatory Authority (FINRA) arbitration process. The call to us is free and there is no obligation. We take cases on a contingency fee basis only.

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The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

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If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

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