RJF · 10-Q · 2026Q2 · Full report

Litigation and Legal Risk

RAYMOND JAMES FINANCIAL INC · 2026-08-05 · Importance 59 · Surprise 82

Raymond James recorded a $58 million expense in the prior-year quarter related to the settlement of a legal matter, which did not recur in the quarter ended June 30, 2026. The company reported higher external legal fees in the current quarter, partially offsetting the benefit from the nonrecurrence of the settlement expense. The filing does not identify the jurisdiction, parties, or nature of the settled matter in this MD&A section.

Key facts

• Three putative class action lawsuits were filed in federal district court in August and December 2024 alleging breaches related to rates paid to clients in our cash sweep programs; all three cases were consolidated. source
• On May 21, 2026, the plaintiffs filed a motion for class certification in the consolidated cash sweep-related case. source
• On July 24, 2025, the claims asserted by the plaintiff in one of the three lawsuits were voluntarily dismissed without prejudice. source
• On March 27, 2026, the federal district court entered an order dismissing some of the claims asserted in the consolidated case. source
• On July 16, 2026, the federal district court granted a motion by two named plaintiffs to voluntarily dismiss their claims without prejudice, leaving the case pending with two named plaintiffs. source