Edward Jones Black Advisers’ Bias Pact Valued at $58 Million (2)

Edward D. Jones & Co. will pay a group of Black financial advisers $34 million to settle their class race discrimination claims in a deal that includes other relief that will bring the value of the settlement to $58 million, Illinois federal court records show.

If approved by the U.S. District Court for the Northern District of Illinois, the pact would bring relief to more than 800 Black field-based advisers who worked for the company in the U.S. and were eligible to serve Edward Jones clients and earn commissions at any time between May 24, 2014, and Dec. 31, 2020. ...