The Securities Arbitration Law Firm of Klayman & Toskes Launches Investigation On Behalf of Bank of America Shareholders With Large Concentrated Positions

The Securities Arbitration Law Firm of Klayman & Toskes, P.A. (“K&T”), www.nasd-law.com, announced today that it is investigating claims on behalf of Bank of America (NYSE: BAC) shareholders who sustained investment losses due to an over-concentration of shares in BofA. Trading at almost $18.00 per share in August of 2009, BofA has declined about 64% and is now trading around $6.70 per share.

Since 2000, K&T 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, filed in the Financial Industry Regulatory Authority (“FINRA”) Arbitration Department f/k/a NASD and NYSE, focused on 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.

The sole purpose of this release is to investigate, on behalf of our clients, sales practice violations of licensed brokers at major Wall Street brokerage firms. Investors who held BofA stock with a full service brokerage firm and sustained significant losses can contact K&T to explore their legal rights and options. The attorneys at K&T are dedicated to pursuing claims on behalf of investors who have suffered investment losses. K&T, an experienced, qualified and nationally recognized securities litigation law firm, practices exclusively in the field of securities arbitration and litigation. It continues its representation of investors throughout the world in securities arbitration and litigation matters against major Wall Street brokerage firms.

If you wish to discuss this announcement or sustained losses of $250,000 or more as a result of holding a concentrated position in BofA, please contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956, or visit us on the web at http://www.nasd-law.com.