Haselkorn & Thibaut, P.A., (InvestmentFraudLawyers.com) has announced its investigation into the Harvest Volatility Management Collateral Yield Enhancement Strategy (“Harvest CYES”) that Merrill Lynch Wealth Management’s customers purchased. Merrill Lynch is a division of Bank of America Corp. (NYSE: BAC) that offers broker-dealer services. Harvest CYES was sold to Merrill Lynch’s brokerage customers as a managed options trading account strategy. Our investigation will focus on the legal claims filed by customers of Merrill Lynch for their losses in Harvest CYES bordering on risk misrepresentation, omission of material and the recommendation of an unsuitable investment by Merrill Lynch.
The Harvest CYES strategy entailed trading “Iron Condor” options positions with the aim of earning premium income from hedged short put and call options. According to InvestmentFraudLawyers.com, a strategy like this is speculative and aggressive with the potential of leading to losses of there are downturns or volatility in the stock market.
Investors who are not looking for this kind of risk should not invest in Harvest CYES. If there is an investor who suffered a loss in Harvest CYES, such investor should contact us so that we can review their portfolio.
Read More – UBS Yes Strategy Lawsuit 2019
On the 23rd of August 2019, the Wall Street Journal published a report about an investor arbitration attempt to recover a $750,000 loss that they suffered in the UBS-Yield Enhancement Strategy (YES). According to the article, the investor’s financial advisor did not only fail to disclose the risks of YES, but they also misled her about its track record and how safe it is.
What Can Harvest CYES Investors Do?
Individual investors who have lost money in “yield enhancement strategies” may be eligible for financial compensation. For a free and confidential case review, investors should call 888-628-5590.
Matthew Thibaut, a partner with Haselkorn & Thibaut, P.A., a law firm that has experience in handling investment loss recovery cases and representing investors, and a former defense lawyer who has represented UBS and Merrill Lynch, said “the potential claims against UBS and these other massive broker-dealer firms are nothing really new and these matters seem analogous to the structured product cases I used to defend, particularly following Lehman Brother’s bankruptcy in September 2015. There are eerily just too many similarities to ignore.”
If you are an investor who has information relating to any suspected sales practices relating to Yield Enhancement Strategies at Merrill Lynch or any other firm, or if you have suffered losses involving YES strategies, please contact Haselkorn & Thibaut, P.A., (888-628-5590 or investmentfraudlawyers.com) for a no-cost consultation. Haselkorn & Thibaut, P.A. handle cases nationwide.