Edward James Lyons, Formerly of Raymond James & Associates, Inc., Accused of Unauthorized Trading and Recommending Unsuitable MLPs

Lyons was barred by FINRA in 2018 after accepting sanctions based on an investigation by FINRA on behalf of 39 former customers who alleged that Lyons engaged in unauthorized trading and the purchase of high risk oil and gas MLPs that were unsuitable for his clients.

The Sonn Law Group is investigating claims that former Raymond James & Associates, Inc. broker Edward James Lyons (Eddie Lyons) engaged in conduct in violation of FINRA Rules. Under FINRA Rules, brokerage firms are liable for their brokers’ misconduct or negligence and investors may be able to their investment through FINRA arbitration. Contact Sonn Law Group today or call us at 866–827–3202 for a free consultation.

Eddie Lyons, (CRD#:1020397) formerly employed by Raymond James & Associates, Inc., was barred by FINRA in 2018 after consenting to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with its investigation into Mr. Lyons.

Mr. Lyons was registered with Raymond James & Associates, Inc. in Shreveport, Louisiana from 2013 to April 2017, when he was terminated due to customer allegations of unauthorized trading.

In November 2017, FINRA launched an investigation into Mr. Lyons following multiple customer complaints alleging a wide range of misconduct, including unauthorized trading and purchase of high risk oil and gas MLPs that were unsuitable for his clients. Customers allege that Mr. Lyons represented investments into the MLPs as bond alternatives instead of informing customers of the risks associated with their investments.

According to BrokerCheck, Mr. Lyons has been the subject of ten customer complaints total ranging from 2011 to 2019, two of which were denied and one was closed without action.

• June 2019: “Violations of FINRA Rules, unauthorized trading, suitability, overconcentration, mismarking trades, self-dealing, failure to disclose risk, breach of contract, fraudulent representation, concealing costs, and conflicts of interest.” This case is pending.
• September 2019: Claimant alleged unsuitable investments and over-concentration. The customer sought $1,279,497.47, the dispute was settled for $677,000.
• April 2016: Claimant alleged breach of duties, churning, fraudulent omissions, federal securities law violations, Louisiana securities law violations, unauthorized trading, and suitability. The customer sought $1.2 million, the dispute was settled for $400,000.
• October 2011: Claimant alleged unsuitability, misrepresentation, and unauthorized trading. The dispute was settled for $152,000.

Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional or corporate executive committed misconduct, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.