The Securities Arbitration Law Firm of Klayman & Toskes Launches Bank of America Stock Loss Recovery Website as it Continues To Investigate Claims On Behalf of Bank of America Shareholders With Large Concentrated Positions in Bank of America Stock

The Securities Arbitration Law Firm of Klayman & Toskes, P.A. (“K&T”) announced today that it launched a website, www.recoverbankofamericastocklosses.com, designed to provide information to Bank of America (NYSE:BAC) (“BofA”) shareholders who sustained substantial losses as a result of holding large concentrated stock positions in BofA stock at full service brokerage firms. The website was created in response to the large number of inquiries K&T received from BofA shareholders who sustained substantial losses in BofA stock. Holders of large concentrated positions in BofA stock can visit this website to learn more about the potential claims they may have against their full-service brokerage firm to recover their BofA investment losses. Presently, K&T is actively and aggressively pursuing securities arbitration claims against full-service brokerage firms on behalf of investors who lost money in BofA stock, and is continuing to investigate whether full-service brokerage firms properly advised clients who held large concentrated stock positions in BofA stock.

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 full-service brokerage accounts. This includes the representation of founders of public companies, directors, officers, executives, key employees, owners of closely held businesses, and wealthy families, who received large grants of stock or stock options, or Rule 144 restricted stock. 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.

BofA shareholders who held concentrated stock positions in BofA stock with full service brokerage firms and sustained losses of $250,000 or more can contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956, to discuss your legal options. You can also visit us on the web at www.recoverbankofamericastocklosses.com