Our Practice

Shultz v. Edward D. Jones & Co. L.P., No. 4:16-cv-01346 (E.D. Mo. 2016)

This class action was filed in the United States District Court for the Eastern District of Missouri on August 19, 2016, on behalf of all participants in the Edward D. Jones & Co. Profit Sharing and 401(k) Plan (the “Plan”). The plaintiff alleged that the fiduciaries of the Plan breached fiduciary duties owed to Plan participants by selecting investment options for the Plan that were managed by preferred partners or other investment managers with corporate relationships with Edward Jones in exchange for millions of dollars in payments. The plaintiff further alleged that these investment options had higher fees than equivalent funds available in the market. As a result of the fiduciary’s actions, the Plan paid excessive fees, reducing the retirement savings of Plan participants.
On January 26, 2017, the Court dismissed the claims against one of the Defendants (The Jones Financial Companies, LLC), while permitting the case to proceed against the remainder of the Plan fiduciaries. On February 10, 2017, a Consolidated Complaint was filed, joining new plaintiffs, and an Amended Consolidated Complaint was filed on May 1, 2017.

Class Actions

Our Class Action practice provides access to court for people who otherwise could not afford to vindicate their rights.

Complex Litigation Practice

IKR clients choose us because of our skill in complex business disputes.

Fill out our contact form and we will get back to you as soon as possible.
For immediate assistance, please call us at (800) 797-5499.