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To: StockDung who wrote (7166)	3/28/2000 8:48:00 PM
From: Sir Auric Goldfinger	Respond to of 10354

Jury Awards $40 Million in Damages Against Raymond James Subsidiaries An INTERACTIVE JOURNAL News Roundup CINCINNATI -- A jury awarded $40 million to a real-estate company that was defrauded by a pair of subsidiaries of the Raymond James Financial Inc. brokerage company. The federal-court jury found that Corporex Cos. was defrauded in 1994 when one of the subsidiaries, RJ Mortgage Acceptance Corp., failed to provide $18 million in interim financing under a conditional letter of intent. Corporex, a closely held property-development and management company based here, also named Raymond James & Associates Inc. as one of the defendants. RJ Mortgage Acceptance was organized in 1993 to assist companies in obtaining real-estate financing. It ceased operations in 1995. The jury awarded $10 million in compensatory damages for Corporex's inability to conclude advantageous business transactions. The jury also awarded $30 million in punitive damages. Lawrence Silver, a spokesman for Raymond James, said the company was "shocked" by the verdict and intends to appeal. "It is clear from the documents signed by the plaintiff that this was not a final commitment and everyone understood that the funding was contingent on many conditions that were never filled," he said. Raymond James, of St. Petersburg, Fla., said it would consult with its auditors about whether to record a charge to cover any judgment. The holding company, through its subsidiaries offers securities-brokerage and underwriting services.