Raymond James Financial Services
Attorneys in our practice are looking into many situations that call for a Raymond James Financial Services lawsuit or arbitration.
Raymond James Financial Services Inc. is a broker-dealer based in St. Petersburg, Florida. The firm has been fined and sued many times in recent years, and you may have a claim for investment losses resulting from inappropriate actions of brokers.
Raymond James Financial Services has been sued for presenting liquid auction-rate securities (ARS) as liquid investments. In 2010 alone, Raymond James was ordered to buy back millions of dollars worth of ARS to investors to whom the securities were misrepresented. During the 2008 market collapse, many investors say they were stuck with ARS they couldn’t sell, and did not receive warning from Raymond James brokers that the ARS market was becoming dire.
In another instance of Raymond James Financial Services fraud, a former Raymond James broker in 2004 pleaded guilty and was sentenced to federal prison for conning wealthy investors into putting more than $44 million into a fraudulent account from which transferred large sums of money to his wife.
In 2011, a former Raymond James broker in Connecticut pleaded guilty to stealing more than $1.3 million from his clients.
FINRA and NASD also have assessed Raymond James with multiple fines of more than $1 million for broker misconduct and failure to supervise employees.
If you were harmed in these or other scenarios involving Raymond James Financial Services, find out your rights. Set up a no-obligation consultation with our office.