Edward Jones

Customers filed a class action lawsuit against the investment firm for allegedly failing to file Bank of America shareholder claims before the deadline. Shareholders originally alleged Bank of America failed to disclose large financial losses stemming from an investment in a hedge fund. In 2002, the bank settled the class action for $490 million. Nearly 8,500 Edward Jones customers own the shares involved; the company was simply negligent in filing their claims by the provided deadline and has agreed to a $2.5 million settlement. (Dec-16-05) [KANSAS CITY STAR]