Nine class action lawsuits were filed against the brokerage firm for questionable revenue sharing and sales practices from 2004. The Securities and Exchange Commission found the company created a conflict of interest by failing to disclose to its customers revenue sharing deals with seven mutual fund companies. Edward Jones has signed a tentative $127 million class action settlement and is awaiting a U.S. District Court judge's approval. (Aug-31-06)
[HOUSTON CHRONICLE]
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