Notice to All Qualcom Investors and UBS/PaineWebber, Inc. Account Holders with Concentrated Positions in Qualcom from the Law Firm of Klayman & Toskes, P.A. -- QCOM
Friday December 13, 7:30 pm ET
biz.yahoo.com NEW YORK, Dec. 13, 2002 (PRIMEZONE) -- The Law Firm of Klayman & Toskes, P.A. (``K&T'') (http://www.nasd-law.com), representing numerous UBS/PaineWebber, Inc. (``PaineWebber'') customers in securities arbitration lawsuits, continues to investigate and pursue claims on its clients' behalf against PaineWebber.
The suits allege that PaineWebber failed to recommend to their clients hedging strategies to protect their concentrated stock positions. Many of these Investors utilized margin. Claims have been brought by K&T against PaineWebber for mismanagement of their clients' portfolios given the fact that there were option strategies available that would have protected the value of the margined, concentrated portfolios, known as a ``zero cost'' collar. K&T represents numerous investors who have lost hundreds of millions of dollars. The law firm's investigation has now expanded to include Qualcom (NasdaqNM:QCOM - News) investors.
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The sole purpose of this release is to investigate, on behalf of our clients, sales practice violations by licensed brokers at PaineWebber. The firm is pursuing arbitration suits before the New York Stock Exchange (``NYSE'') and the National Association of Securities Dealers (``NASD'') for securities violations including the misuse of margin, the misuse of stock option plans, failure to supervise, unsuitability claims, misrepresentation and material omissions of fact, unauthorized transactions, and excessive trading/churning of customers' accounts. We would greatly appreciate any information from Qualcom shareholders with accounts at PaineWebber with regard to the handling of their accounts.
K&T has offices in California, Florida and New York and represents investors throughout the nation. If you wish to discuss this announcement or have information relevant to our lawsuits, please contact Lawrence L. Klayman, Esquire of Klayman & Toskes, P.A., 888-997-9956 or visit us on the Web at nasd-law.com
Contact:
Klayman & Toskes, P.A.
Lawrence L. Klayman
(888) 997-9956
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Source: Klayman & Toskes P.A. |
