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Notice to All Level 3 Communications Investors From The Securities Arbitration Law Firm of Klayman & Toskes, P.A.26 February 2006
The Law Firm of Klayman & Toskes, P.A. ("K&T") ( http://www.nasd-law.com ), representing numerous investors with concentrated stock positions in Level 3 Communications (Nasdaq: LVLT), continues to aggressively pursue claims on behalf of Level 3 investors with recoverable damages.
Recently, K&T filed a claim before the New York Stock Exchange ("NYSE") Case No. 05-016292 against RBC Dain Rauscher, Inc., seeking to recover losses sustained in the amount of $7,472,172. The lawsuit seeks damages for RBC Dain Rauscher, Inc.'s failure to advise the Claimant of risk management strategies to protect his concentrated stock portfolio. Following the filing of this most recent suit, K&T will continue to investigate claims on behalf of similar Level 3 investors seeking to recover comparable losses.
Presently, K&T represents numerous Level 3 investors who have claims against Wall Street brokerage firms before the NYSE and the National Association of Securities Dealers. The claims focus on the mismanagement of the clients' portfolios given the fact that there were risk management strategies available at the time that the stock position was concentrated 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 "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 "hedge" the value of the portfolio concentrated in Level 3 Communications, Inc. directly exposed the Claimant's concentrated portfolio to the fluctuations in the volatile securities market.
The sole purpose of this release is to investigate, on behalf of our clients, sales practice violations of licensed brokers at major brokerage firms. Presently, K&T continues to represent many Level 3 investors, as well as numerous others, who have claims against major Wall Street brokerage firms 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 and excessive trading/churning of customers' accounts.
K&T represents investors throughout the nation in securities litigation and arbitration matters. If you wish to discuss this announcement or have information relevant to our securities arbitration claims, please contact Lawrence L. Klayman, Esquire of Klayman & Toskes, P.A., at 888-997-9956 or visit us on the web at http://www.nasd-law.com .
Source: prnewswire
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