John Alex (CRD: 2020710) settled customer disputes at Morgan Stanley and UBS Financial Services between 2011 and 2025, according to BrokerCheck, which lists him as John L. Alex.
According to a recent article in Financial Advisor IQ, Raymond James & Associates is being sued by three former clients. These clients claim that they suffered losses due to their advisor’s unauthorized trades in oil and gas.
The lawsuit, filed in Louisiana, is the latest in a series of lawsuits alleging unauthorized trading by former Raymond James advisor, JAMES EDWARD LYONS (James E Lyons, Eddie Lyons).
The three plaintiffs allege that James E Lyons over-concentrated their portfolios in investments in oil and gas, mostly in master limited partnerships (MLPs). The three clients followed Lyons to Raymond James in 2013, from Morgan Keegan, when Morgan Keegan was purchased by Raymond James. According to the Financial Advisor IQ article, the three plaintiffs had a combined portfolio loss of more than $255,000 in 2015, or about 18.7% of their holdings. The plaintiffs’ petition claims that many of the MLPs went bankrupt during that period.
Allegedly, Lyons falsely reported to the firm that the plaintiffs had authorized his trading, and that the firm failed to properly supervise James E Lyons, who was with a branch in Shreveport, Louisiana.
There are now numerous former clients of Lyons who have filed lawsuits. On Oct. 28, 2019, a Financial Industry Regulatory Authority (FINRA) arbitration panel awarded of nearly $3 million plus fees, interest and costs, to 29 former Lyons’ clients.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, James E Lyons, has been barred by FINRA from acting as a broker or otherwise associating with a broker-dealer firm. He has not been registered since his termination by Raymond James in June of 2018. Lyons was registered in the securities industry for 34 years, was listed with 3 firms and has 12 disclosures on his FINRA CRD report. Of the 12 disclosures, 10 are “Customer Disputes.”
If you or an elderly loved on have suffered financial losses due to the actions or recommendations of Raymond James & Associates and/or their former registered representative, James E Lyons, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee basis, no fee to you if no recovery. We represent clients nationwide before FINRA.
John Alex (CRD: 2020710) settled customer disputes at Morgan Stanley and UBS Financial Services between 2011 and 2025, according to BrokerCheck, which lists him as John L. Alex.
Sam Bhushan (CRD: 4884717) is named in several pending customer complaints and one settled dispute, according to his BrokerCheck report.
Sterling Louviere (CRD: 2021328), listed on BrokerCheck as Sterling Vaughn Louviere, is named in a pending customer claim over Reg D private placements, with Cabin Securities as the firm named.
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