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Raymond James, Beran sued by widow over risky trades

2017-01-04 10:30 ET - Street Wire

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by Mike Caswell

Raymond James Ltd. and one of its former employees, Jean-Paul Beran, are the subject of a lawsuit filed in the Supreme Court of British Columbia by a Vancouver widow who complains about Mr. Beran's mishandling of her $1.8-million portfolio. She says that Mr. Beran bought unsuitable resource stocks and made excessive trades in her account. The activity led to losses that she describes as substantial.

Jean-Paul Beran
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Jean-Paul Beran

The allegations are contained in a notice of claim filed at the Vancouver courthouse on Dec. 22, 2016, by Elizabeth Lawrence-Grinti. She is seeking damages for breach of duty and fraudulent or negligent misrepresentation. She also claims that Raymond James failed to properly supervise Mr. Beran.

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Good luck Ms Lawrence-Grinti. This piece reads like a boiler plate for greed and corruption in markets with some of the names changed to make it look like a new story.

Posted by Backseat Driver at 2017-01-04 13:19


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