SEATTLE, Feb. 3, 2003 (PRIMEZONE) -- The Law Firm of Klayman & Toskes, P.A. ("K&T") (http://www.nasd-law.com) represents large groups of Microsoft, Inc. (Nasdaq:MSFT) Employee Stock Option Plan ("ESOP") participants throughout the country, in securities arbitration lawsuits. The claims seek compensatory damages directly related to the misuse of margin which resulted in concentrated portfolios. The firm continues to aggressively pursue and investigate their clients' claims. These claims were based on the contention that that brokerage firms are under a duty to advise their clients to hedge the risk of concentrated stock portfolios.
K&T has filed numerous claims on behalf of Microsoft ESOP participants and other investors with concentrated stock portfolios against major securities firms who have mismanaged their clients' portfolios. The claims focus on the mismanagement of clients' portfolios, due to the fact that there were option contracts available that would have protected the value of the concentrated margined portfolio, a strategy known as a "zero cost" collar.
The sole purpose of this release is to investigate, on behalf of our clients, sales practice violations of licensed brokers at major brokerages. The firm is pursuing arbitration suits before the New York Stock Exchange and the National Association of Securities Dealers 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. We would greatly appreciate any information from Microsoft ESOP participants and other investors concerning the method or process used by various major brokerage firms with regard to the handling of their margined concentrated stock portfolios.
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 http://www.nasd-law.com.