SOURCE: Shalov Stone Bonner & Rocco LLP

Shalov Stone Bonner & Rocco LLP

June 10, 2009 14:55 ET

Shalov Stone Bonner & Rocco LLP Announces That a Securities Fraud Class Action Has Been Filed Against Raymond James Financial, Inc.

NEW YORK, NY--(Marketwire - June 10, 2009) - Shalov Stone Bonner & Rocco LLP announces that a class action lawsuit has been filed on behalf of purchasers of the common stock of Raymond James Financial, Inc. ("Raymond James" or the "Company") (NYSE: RJF) between April 22, 2008, and April 14, 2009 (the "Class Period"). The lawsuit is pending in the United States District Court for the Southern District of New York against Raymond James; Thomas A. James, the Chairman and Chief Executive Officer of Raymond James; and Jeffrey P. Julien, the Company's chief financial officer.

The complaint alleges that, throughout the Class Period, the defendants violated the federal securities laws by misrepresenting and failing to disclose material adverse facts that were known to the defendants or recklessly disregarded by them. More specifically, the complaint alleges, among other things, that the defendants publicized the Company's purportedly conservative management practices and mortgage portfolios, when, in reality, there were significant credit risks associated with the residential and commercial loan portfolios of one of its largest wholly-owned subsidiaries.

Shalov Stone Bonner & Rocco LLP has extensive experience in the prosecution of class actions on behalf of investors. For more information about the firm, please visit its website at: www.lawssb.com

If you would like additional information about the lawsuit or would like to participate in it, please contact Thomas G. Ciarlone, Jr., at Shalov Stone Bonner & Rocco LLP, 485 Seventh Avenue, Suite 1000, New York, New York 10018 (telephone: (212) 239-4340; e-mail: tciarlone@lawssb.com).

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