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Everen Securities Wins Raiding Case Against Raymond James
A NYSE arbitration panel has found Raymond James & Associates, Inc. liable to Everen Securities / Principal Financial Securities for raiding and has assessed damages of $4.75 million.
The panel rejected Raymond James' argument that Everen's purchase of Principal changed the relationship between the Principal firm and its brokers.
Raymond James plans to appeal.
Source: Bureau of National Affairs, March 8, 2000
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