Judge Denies Bid To Dismiss Shelf Space Payment Suit

Law360, New York (March 15, 2006, 12:00 AM EST) -- California Attorney General Bill Lockyer may have finally caught a break in his relentless campaign against mutual fund sales practices, as a California judge has tentatively denied a motion by broker Edward D. Jones & Co. to dismiss a suit brought by Lockyer on the grounds that he does not have the authority to file it.

Edward D. Jones argued that the suit, filed after the brokerage allegedly failed to disclose “shelf space” payments it received from mutual funds in return for recommending the funds to...
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