James Edward Lyons of Shreveport Louisiana a stockbroker employed by Raymond James Associates Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer had been awarded $2,986,708.96 in compensatory damages supported by Raymond James Associates being found liable on the customer’s claims which included that (1) mutual funds, stocks and direct participation program interests or limited partnership interests transactions failed to be suitable because of the customer’s investment circumstances (2) trades were effected in the customer’s account by the stockbroker without the customer’s knowledge or consent (3) omissions and misrepresentations had been made regarding the terms or risks of investments (4) the customer’s account was handled by the stockbroker in a negligent manner (5) an investment related contract was breached by the stockbroker and (5) the customer was defrauded by making investments through the stockbroker when he was employed by Raymond James Associates. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02973 (Oct. 25, 2019).

FINRA Public Disclosure reveals that Lyons has been referenced in eight more customer initiated investment related disputes concerning accusations of his improprieties when the stockbroker was associated with securities broker dealers including Raymond James Associates and Morgan Keegan Company LLC. Particularly, a customer initiated investment related civil action in reference to Lyons’ conduct has been resolved for $400,000.00 in damages based upon accusations that when Lyons was associated with Raymond James Associates and Morgan Keegan Company, transactions were unauthorized and unsuitable given the customer’s investment profile; the customer’s account as churned; and fraudulent omissions were made concerning mutual funds, stocks, equities and direct investments. Civil Action No. 15:16-cv-00738 (May 9, 2017).

Another customer initiated investment related complaint involving Lyons’ conduct was settled for $677,000.00 on February 21, 2019 in damages based upon allegations that when Lyons was associated with Raymond James Associates, the customer’s assets were over concentrated by the stockbroker in unit investment trusts, common or preferred stocks and direct participation program interests or limited partnership interests causing the customer to be exposed to increased risks; and transactions effected in the customer’s account by the stockbroker were not suitable given the customer’s risk tolerance.

Lyons is additionally referenced in a customer initiated investment related arbitration claim where the customer sought more than $5,000.00 in estimated damages founded on accusations that fraudulent false or misleading statements had been made in regard to the terms and conditions of investments; a contract pertaining to the customer’s investments was breached; transactions had been overly risky; information was not properly disclosed in regard to the risks of unit investment trust and common or preferred stock transactions; the customer’s account contained an excessive concentration in speculative investments; transactions were unsuitable in view of the customer’s objectives for investing and tolerance for risk; and purchases or sales of investments had been executed without the customer’s permission when Lyons was employed by Raymond James Associates. FINRA Arbitration (June 18, 2019).

FINRA Public Disclosure indicates that Lyons has been barred from associating with any FINRA member in any capacity supported by findings that the stockbroker neglected to provide recorded testimony to the regulator concerning allegations or concerns of his violations of FINRA rules when he had been employed by Morgan Keegan Company or Raymond James Associates. Letter of Acceptance Waiver and Consent No. 2017054358101 (June 4, 2018).

According to the AWC, on May 11, 2018, the stockbroker was instructed by FINRA to provide testimony in response to allegations of unauthorized trading made by a customer of Raymond James Associates. By May 22, 2018, Lyons informed FINRA that he would not be cooperating in the investigation by testifying. FINRA determined that the stockbroker’s conduct was violative of FINRA Rules 2010 and 8210.

Raymond James Associates discharged Lyons on April 28, 2017 based upon allegations of the stockbroker being referenced in one or more customer initiated investment related disputes containing allegations of the stockbroker’s unauthorized trading when he was associated with Raymond James Associates.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

Questions or comments regarding the source or accuracy of any information, including any subsequent developments, should be directed to:  [email protected]

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer.

Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Stockbroker Fraud. Securities Arbitration and Investment Fraud Lawyers.  
National Practice. Contingent Fee. Confidential Free Consultation.

 (877) SEC-ATTY

1700 Market Street, Suite 1005
Philadelphia, PA 19103
Direct: (215) 413-8223
Toll Free: (877) 732-2889

1260 South Soto Street, Suite 7
Los Angeles, California 90023
Direct: (213) 255-3475
Toll Free: (877) 732-2889

2750 NE 185th Street, Suite 302
Aventura, Florida 33180-2877
Direct: (786) 490-2413
Toll Free: (877) 732-2889

See Important Disclaimer

Tags: ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website