BOCA RATON, Fla., April 12, 2011 (GLOBE NEWSWIRE) -- The Securities Law Firm of Menzer & Hill, P.A. (www.suemyadvisor.com) announces that it has filed multiple arbitration claims against Raymond James Financial Services, Inc. (NYSE:RJF) related to the solicitation of leveraged and inversed Exchanged-Traded Funds ("ETFs"). Many brokerage firms, including RJF, through their financial advisors, solicited purchases in these securities as investments, with holding periods longer than one day, while others were recommending option strategies on the underlying ETFs. The Financial Industry Regulatory Authority ("FINRA"), stated in a Regulatory Notice, sent to brokerage firms in June 2009, that leveraged and inverse ETFs are "highly complex financial instruments" and "are typically not suitable for retail investors who plan to hold them for more than one trading [day], particularly in volatile markets." Brokerage firms that failed to adhere to suitability requirements could be held liable to investors that sustained losses in solicited purchases of leveraged and inverse ETFs as a result.
Investors that purchased leveraged or inverse ETFs through a brokerage account or managed account offered by Raymond James or other brokerage firms should contact the attorneys at the Securities Law Firm of Menzer & Hill, P.A. to determine if they have a claim for a recovery of losses.
For a free case evaluation or to discuss any other investment losses, please contact the Securities Law Firm of Menzer & Hill, P.A. at 888-923-9223, or visit us on the web at www.suemyadvisor.com.