Mo. Appeals Court Upholds $60M AG Edwards Settlement

Law360, New York (May 31, 2011, 10:46 PM EDT) -- A Missouri appeals court on Tuesday upheld a $60 million settlement ending a class action that accused broker-dealer A.G. Edwards & Sons Inc. of receiving kickbacks from mutual fund companies.

The Missouri Court of Appeals, Eastern District, denied class members Robert and Barbara Kirstein's request to intervene and said a trial court did not err when it found the settlement to be fair and reasonable.

Under the terms of the settlement, A.G. Edwards, now owned by Wells Fargo Advisors LLC, agreed to pay $26 million in...
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