September 8, 2011 - The court granted the stipulation of dismissal.
August 31, 2011 - A stipulation of dismissal was filed by the parties.

September 2, 2010 - The court granted in part and denied in part defendants' motion to dismiss.

November 16, 2009 - A motion to dismiss the second amended complaint was filed.

October 16, 2009 - A second amended complaint was filed.

September 17, 2009 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

January 7, 2009 - A motion to dismiss the amended complaint was filed.

December 1, 2008 - An amended complaint was filed.

April 8, 2008 - An investor in auction rates securities of Raymond James Financial Inc (NYSE: RJF) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Raymond James Financial Inc in connection with certain allegedly false and misleading statements made between April 8, 2003 and February 13, 2008.

The complaint alleges that Raymond James Financial Inc violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by deceiving investors about the investment characteristics of auction rate securities and the auction market in which these securities traded. Auction rate securities are either municipal or corporate debt securities or preferred stocks which pay interest at rates set at periodic “auctions.” Auction rate securities generally have long-term maturities or no maturity dates.

The complaint alleges that, pursuant to uniform sales materials and top-down management directives, Raymond James Financial Inc offered and sold auction rate securities to the public as highly liquid cash-management vehicles and as suitable alternatives to money market mutual funds. According to the complaint, holders of auction rate securities sold by Raymond James Financial Inc and other broker-dealers have been unable to liquidate their positions in these securities following the decision on February 13, 2008 of all major broker-dealers to “withdraw their support” for the periodic auctions at which the interest rates paid on auction rates securities are set.

Furthermore, the complaint alleges that Raymond James Financial Inc failed to disclose the following material facts about the auction rate securities it sold to the class: (1) the auction rate securities were not cash alternatives, like money market funds, but were instead, complex, long-term financial instruments with 30 year maturity dates, or longer; (2) the auction rate securities were only liquid at the time of sale because broker-dealers were artificially supporting and manipulating the auction rate market to maintain the appearance of liquidity and stability; (3) broker-dealers routinely intervened in auctions for their own benefit, to set rates and prevent all-hold auctions and failed auctions; and (4) Raymond James Financial Inc continued to market auction rate securities as liquid investments after it had determined that broker dealers were likely to withdraw their support for the periodic auctions and that a “freeze” of the market for auction rate securities would result.