Izard Nobel LLP Announces Class Action Lawsuit Against Raymond James Financial, Inc.

WEST HARTFORD, CT, Jun 16 (MARKET WIRE) --
The law firm of Izard Nobel LLP, which has significant experience
representing investors in prosecuting claims of securities fraud,
announces that a lawsuit seeking class action status has been filed in
the United States District Court for the Southern District of New York on
behalf of those who purchased the common stock of Raymond James
Financial, Inc. ("Raymond James" or the "Company") (NYSE: RJF) between
April 22, 2008 and April 14, 2009, inclusive (the "Class Period").

The Complaint charges that Raymond James and certain of its officers and
directors violated federal securities laws. Specifically, it is alleged
that defendants repeatedly touted Raymond James' supposedly conservative
management practices and avoidance of risky assets associated with
subprime residential mortgages. Defendants, however, failed to disclose
that Raymond James understated the credit risks of its wholly owned
subsidiary's commercial and residential loan portfolios, and failed to
set aside adequate reserves for the losses that Raymond James knew, or
recklessly disregarded, were forthcoming.

On April 14, 2009, Raymond James announced that results for the second
fiscal quarter ended March 31, 2009, would be well below the consensus
analysts' estimates and that both its commercial and residential
portfolios would require higher loss reserves, with the loan loss
provision tripling from the previous quarter. On this news, Raymond James
stock fell $2.57 per share, or 13.48%, to close at $16.49 per share on
April 15, 2009.

If you are a member of the class, you may, no later than August 10, 2009,
request that the Court appoint you as lead plaintiff of the class. A lead
plaintiff is a class member that acts on behalf of other class members in
directing the litigation. Although your ability to share in any recovery
is not affected by the decision whether or not to seek appointment as a
lead plaintiff, lead plaintiffs make important decisions which could
affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to
view a copy of the Complaint initiating the class action or for more
information about the case, and your rights, visit:
www.izardnobel.com/raymondjames/, or contact Izard Nobel LLP toll-free at
(800) 797-5499, or by e-mail: firm@izardnobel.com. For more information
about class action cases in general, please visit our website:
www.izardnobel.com.

CONTACT:
Nancy A. Kulesa or Wayne Boulton
(800) 797-5499
www.izardnobel.com
Email Contact

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