Edward Jones Clients Get Suit Over Fee-Based Accounts Revived

Edward D. Jones & Co. LP clients will get a new chance at a proposed class action alleging they were pushed to move to fee-based investment accounts after the Ninth Circuit found some claims not preempted and revived their case Thursday.

The district court was wrong to throw out the clients’ suit against the financial services firm on jurisdictional grounds, the U.S. Court of Appeals for the Ninth Circuit said. A federal securities law precluding some state law-based class claims doesn’t apply to their allegations.

The clients argue that St. Louis-based Edward Jones breached its fiduciary duties under California ...