Faruqi & Faruqi, LLP Announces Filing of Class Action Lawsuit Against Raymond James...

Faruqi & Faruqi, LLP Announces Filing of Class Action Lawsuit Against Raymond
James Financial, Inc. -- RJF

NEW YORK, June 10, 2009 (GLOBE NEWSWIRE) -- Notice is hereby given that a class
action lawsuit was commenced in the United States District Court for the
Southern District of New York on behalf of all purchasers of the common stock of
Raymond James Financial, Inc. ("RJF" or the "Company") (NYSE:RJF) between April
22, 2008 and April 14, 2009, inclusive (the "Class Period"). A copy of the
complaint filed in this action can be viewed on the firm's website at
www.faruqilaw.com

RJF and certain of its officers and directors are charged with issuing a series
of materially false and misleading statements in violation of Section 10(b) and
20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder. Specifically,
the Complaint alleges that defendants repeatedly touted its supposedly
conservative management practices and avoidance of risky assets associated with
subprime residential mortgages. Defendants, however, failed to disclose that RJF
understated the credits risks of its wholly-owned subsidiary's commercial and
residential loan portfolios, and failed to set aside adequate reserves for the
losses that RJF knew, or recklessly disregarded, were forthcoming. On April 14,
2009, RJF shocked investors when it announced that results for the second fiscal
quarter ended March 31, 2009, would be well below the consensus analysts'
estimates. RJF also announced that both its commercial and residential
portfolios would require higher loss reserves, with the loan loss provision
tripling from the previous quarter. In response to such an unexpected sharp
increase in loan loss provisions, investors sent RJF shares plummeting. RJF
closed down $2.57 per share, or 13.48%, to close at $16.49 per share on April
15, 2009 on unusually high volume. Over the next few days, RJF's stock price
traded as low as under $15 per share, well below its Class Period highs of over
$38 per share.

Plaintiff seeks to recover damages on behalf of himself and all other individual
and institutional investors who purchased or otherwise acquired RJF common stock
between April 22, 2008 and April 14, 2009, excluding defendants and their
affiliates. Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm with
extensive experience in prosecuting class actions and actions involving
corporate fraud.

If you wish to obtain information concerning joining this action you can do so
under the "Join Lawsuit" section of our website at: www.faruqilaw.com

If you purchased RJF securities during the Class Period, you may, not later than
August 10, 2009, move the court to serve as lead plaintiff of the class, if you
so choose. In order to serve as lead plaintiff, however, you must meet certain
legal requirements. If you wish to discuss this action, or have any questions
concerning this notice or your rights or interests, please contact:

ANTHONY VOZZOLO, ESQ.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Telephone: (877) 247-4292 or (212) 983-9330
E-mail: Avozzolo@faruqilaw.com
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CONTACT: Faruqi & Faruqi, LLP
(877) 247-4292