Unsuitable Investment Advice

In this matter, we represented a retired employee of UPS who held over $ 1.8 million in UPS stock that he had acquired over the years under certain employee stock plans. Upon retirement, Merrill Lynch approached him and recommended that he diversify his UPS stock by purchasing as “pre-paid forward contract” (a type of contract in which Merrill Lynch would loan him money against his UPS stock in order to make diversified investments in the stock market, with the repayment of the loan to be based upon the price of the UPS stock at the end of a given time period). Learn more »

Life Insurance Sales Practices

In this action our firm represented a middle age couple who had been sold numerous variable whole life insurance policies from New England Life Insurance. Although they already owned life insurance policies, our clients were promised by New England's agents that their purchase of variable whole life policies should be used to fund their retirement needs. Learn more »