This article appears courtesy of Institutional Investor
Source: InstitutionalInvestor.com
Retirees of United Parcel Service have charged a Merrill Lynch broker with taking their stock they held in their company and putting it in a risky investment that caused them to lose millions of dollars in some cases.
In a hearing before an NASD arbitration panel, the retirees charged that the broker, Brian Wurdemann, represented the move of UPS stock into an options trading strategy as having “no downside.”
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