Financial services firm Edward D. Jones & Co. has been ordered to pay $34 million to settle a racial discrimination class action lawsuit. The plaintiffs, a class of 800 current and former African American financial advisers, allege that the company routinely deprived them of profitable assignments. Class members also allege that due to their race, they were excluded from professional development opportunities.
In addition to paying the 8-figure settlement, Edward Jones will create a diversity, equity and inclusion council of financial advisers.
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