Edward Jones Strikes $34M Deal In Advisers' Race Bias Suit

Law360 (May 5, 2021, 10:16 AM EDT) -- Investing giant Edward D. Jones & Co. will pay $34 million to settle a race discrimination class action brought by Black financial advisers under a deal that has won a green light from a Chicago federal judge.

U.S. District Judge Andrea Wood on Tuesday granted preliminary approval to the settlement and the class, which covers Edward Jones' U.S.-based Black financial advisers between May 2014 and December 2020. A final approval hearing is slated for July 12.

"The court preliminarily concludes that the settlement agreement is fair, reasonable, adequate and the result of extensive, arm's-length negotiations between experienced counsel and parties," Judge...

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