A class action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Raymond James Financial, Inc. (NYSE: RJF) between April 22, 2008, and April 14, 2009 (the "Class Period"). The lawsuit alleges that defendants repeatedly touted its supposedly conservative management practices and avoidance of risky assets associated with subprime residential mortgages. Defendants, however, failed to disclose that Raymond James Financial understated the credit risks of its wholly owned subsidiary's commercial and residential loan portfolios, and failed to set aside adequate reserves for the losses that Raymond James Financial knew, or recklessly disregarded, were forthcoming. On April 14, 2009, Raymond James Financial shocked investors when it announced that results for the second fiscal quarter ended March 31, 2009, would be well below the consensus analysts' estimates. Raymond James Financial also announced that both its commercial and residential portfolios would require higher loss reserves, with the loan loss provision tripling from the previous quarter. In response to such an unexpected sharp increase in loan loss provisions, Raymond James Financial common stock dropped $2.57 per share, or 13.48%, to close at $16.49 per share on April 15, 2009.

If you are a current shareholder or purchased shares during the period of April 22, 2008, and April 14, 2009 and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.