RAYMOND SARDINA & RAYMOND JAMES Lawsuit Filed

Soreide Law Group has filed a FINRA arbitration on behalf of their client (Claimant) against:

RAYMOND JAMES & ASSOCIATES, INC., and their registered representative,

RAYMOND SARDINA (Respondents).

The Claimant is in his late sixties and resides in Venezuela. The Claimant’s previous broker had left RAYMOND JAMES and he was assigned to RAYMOND SARDINA. According to the lawsuit, the Claimant trusted the Respondents would keep him in the mostly conservative long term growth investments his previous broker had placed him in.  According to the lawsuit, from the start of the relationship with RAYMOND SARDINA in 2018, SARDINA allegedly began to invest the Claimant in speculative high-risk investments on margin. The margin rates in 2018 were as high as 9.92%. According to the lawsuit, in 2018, SARDINIA purchased Equity-Linked Securities, which is a type of structured product in energy and biotech stocks that he allegedly presented to the Claimant as “guaranteed.” Equity-Linked Securities lost over 50% of their value. The lawsuit alleges that RAYMOND SARDINA allegedly purchased on margin large concentrated positions in stocks such as Catalyst Biosciences, Docusign, and Tesla, to name a few, creating alleged losses of almost $1.4 million dollars in just the 5 years SARDINIA was managing the Claimant’s life savings.

The lawsuit alleges that RAYMOND JAMES and their representative, RAYMOND SARDINA’s actions have caused the Claimant damages of approximately $1,500,000.00. The lawsuit is alleging: negligence, breach of fiduciary duty, negligent supervision and violation of Florida’s Investor Protection Act §517.

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, RAYMOND SARDINA, has been in the securities industry for 22 years and has 2 disclosures on his FINRA CRD report.  Both disclosures are “Regulatory.” SARDINA has been listed both as a broker and an investment advisor since 2007 with the following firm:

RAYMOND JAMES & ASSOCIATES, INC.

2333 PONCE DE LEON BLVD.
SUITE 500
CORAL GABLES, FL 33134

If you’ve suffered investment losses due to the actions or recommendations of Raymond James and/or their registered representative, RAYMOND SARDINA, of Coral Gables, Florida, contact the South Florida-based Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your financial losses through a FINRA arbitration at:  888-760-6552.

Soreide Law Group represents our clients nationwide before FINRA on a contingency fee basis, no fee to you if no recovery.