Ed Jones Customers to Get $22 Apiece in Settlement

Under a preliminary settlement agreement that plaintiffs in a class-action lawsuit filed in the U.S. District Court of the Eastern District of Missouri, current and former customers of Edward D. Jones would receive an average of $22 apiece, while their attorneys, who work at 11 different law firms, would split $38 million, the St. Louis Daily Record reports.The filing included the $127.5 million the company agreed to pay two months ago when it settled nine class-action lawsuits over its revenue-sharing practices. The firm reached a $75 million settlement with the Securities and Exchange Commission, New York Stock Exchange and NASD in December 2004 over the practices.