James Edward Lyons, of Shreveport, Louisiana, a stockbroker formerly registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related civil dispute, containing allegations of breach of contract, breach of fiduciary duty, fraudulent omissions, violations of federal securities laws, and violations of the securities laws of the State of Louisiana in reference to sector specific investments effected in the customer’s account. Civil Action No. 5:17-CV-1245 (Oct. 6, 2017).
Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that on September 13, 2017, he was identified in a customer initiated investment related written complaint, where the customer requested at least $5,000.00 in compensatory damages based upon allegations that between March 14, 2003 and June 27, 2017, Lyons effected real estate investment trust transactions in the customer’s account that were unsuitable and poorly performing.
Further, on June 14, 2017, a customer filed an investment related written complaint regarding Lyons’ activities, in which the customer requested $800,000.00 in damages supported by allegations that between December 23, 2013 and June 14, 2017, Lyons executed mutual fund, equity and direct investment product transactions without the customer’s consent, and effected transactions that were not suitable for the customer.
The customer disputes come after Lyons was fired by Raymond James & Associates, Inc. on April 28, 2017, based upon allegations that he effected unauthorized trades in customer accounts.
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