Soreide Law Group Files FINRA Arbitration Against RAYMOND JAMES & ASSOCIATES

Soreide Law Group has filed a FINRA arbitration on behalf of our client (Claimant) against:
RAYMOND JAMES & ASSOCIATES, INC.
The Claimant, a resident of Florida, brings this action to recover losses due to RAYMOND JAMES & ASSOCIATES allegedly mishandling savings entrusted to its care, by over-concentrating the Claimant’s portfolio in speculative oil investments such as Memorial Production Partners and Williams. The lawsuit alleges that RAYMOND JAMES & ASSOCIATES sold the oil investments to the Claimant as safe and secure income vehicles. When the Claimant expressed concerns regarding the decline in Memorial and Williams they were allegedly told to hold.
RAYMOND JAMES & ASSOCIATES had an investment banking relationship with Memorial Production Partners. Not surprising RAYMOND JAMES & ASSOCIATES’ investment bank maintained an Outperform rating on Memorial Production Partners stock until it reached $1.59. The lawsuit alleges a result, the Claimant has suffered damages of approximately $99,000 and of RAYMOND JAMES & ASSOCIATES’ improper recommendation to buy and hold these oil stocks.
The lawsuit alleges: breach of fiduciary duty, negligence, breach of contract, failure to supervise, and violations of the conduct rules of the Financial Industry Regulatory Authority (FINRA).
If you’ve suffered losses due to the actions or recommendations of RAYMOND JAMES & ASSOCIATES or any other broker/dealer over-concentrating your portfolio in high risk oil and gas stocks, such as Memorial Production Partners and Williams, contact Soreide Law Group and speak to a securities lawyer regarding the possible recovery of your financial losses through a FINRA arbitration at:  888-760-6552.
The Florida-based Soreide Law Group represents clients nationwide before FINRA.  We operate on a contingency fee basis, no fee if no recovery.