Edward Jones Settlement Checks

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Feb 7, 2009 4:30 pm

I was on the phone with another ex-Edward Jones advisor yesterday and he asked me about the class-action lawsuit.  I told him I had called the 800 number listed on the participation form to confirm my enrollment in the suit around the 1st of January, at that point they told me they were in a mandatory 60 day waiting period, so I encouraged him to call to confirm his participation and to see if there was any more updated news.  He called me back and after confirming his participation the customer service associate who helped him told him that the checks would be mailed out on February 28th.  She also told him the monthly amount would be listed on a web-site on February 28th so everyone will be able to calculate how much they will be getting in the settlement.


 
Lapide
Feb 7, 2009 9:02 pm

Does anyone know if their estimate on the paperwork had any merit? I wasn't sure if reading between the lines they were doing an example, but it was really what they were anticipating the per month share to be.


Feb 8, 2009 7:34 pm

Is there a website that has the information?

Feb 9, 2009 3:26 pm

What is the 800 number.  I have misplaced my sheet that I sent in and I want to confirm they have received it.  Thanks.

Feb 10, 2009 9:27 am

I want my 2 dollars

Feb 10, 2009 7:15 pm
outofjail:

I want my 2 dollars

Depending on how much time you spent in that low-rent excuse for a brokerage firm, the check could be well more than $1000.  If too many of the current brokers did not submit a claim out of fear of retribution, then it might be more than $2500. 
Feb 10, 2009 8:06 pm

They should pay up, they made us work the 4th of July, doing some stupid project about the history of EDJ. I wish I had my red boxing gloves to punch them out then!!! They  put the fear of God or Ted in you if you reported your actual hours worked.(funny they never said anything) I did that for the first few weeks, then screw them I put my actual hours worked. I know of many who are sooooooo afraid of claiming their money, that is  more for me!! I was in one of the classes where they cut it down to 6 weeks to study for the 7, just to read and do the test it took more then 8 hours...

Feb 10, 2009 9:18 pm
monopolybet:

They should pay up, they made us work the 4th of July, doing some stupid project about the history of EDJ. I wish I had my red boxing gloves to punch them out then!!! They  put the fear of God or Ted in you if you reported your actual hours worked.(funny they never said anything) I did that for the first few weeks, then screw them I put my actual hours worked. I know of many who are sooooooo afraid of claiming their money, that is  more for me!! I was in one of the classes where they cut it down to 6 weeks to study for the 7, just to read and do the test it took more then 8 hours...





 
Ahhh...a fellow member of the "pilot program."
 
I'll never forget the first group phone call where they told us they were going to experiment to see what would happen if they reduced the number of weeks we studied but increased the number of hours we studied per day.
 
It didn't take them long to go back to the original schedule after they got the results for the first couple of groups they tried that on.
Feb 11, 2009 6:29 am

That really should have been my first clue, that they where idiots to work with. No business sense at all. I told every one in the interview process I had an anniversary trip planned. They "let" me go with words of wisdom that I should enjoy myself it would be last vacation I could afford for a long time. They made me do all the work the week I was gone and also made me make up the 125 contact for the week I was gone. BUT I was never paid....well I signed up for the settlement I think I earned it..gotta love Jones

Feb 11, 2009 9:35 am

Did they ever get Email? Still have the "bond aggregate Rule"? 30% payout? Saturday promotions?

Feb 11, 2009 9:50 am
outofjail:

Did they ever get Email? Yes. But don't use it too much or your FSD will tell you to cut back.

Still have the "bond aggregate Rule"? It's alive and well.
30% payout? 39%
Saturday promotions? You'd better believe it!
Feb 11, 2009 11:13 am

What about SHAMROCK SATURDAY, RECRUIT FOR A FRUIT?

Feb 11, 2009 11:21 am

THERE IS A WIND STORM COMING THROUGH THE MIDWEST, I HOPE TO HELL IT DOESNT KNOCK OUT THAT STATE OF THE ART SATELITE SYSTEM ESPECIALLY WHEN YOUR IN THE MIDDLE OF YOU 25 CONTACTS!!!!!!!

Feb 11, 2009 2:41 pm
dfi:

What is the 800 number.  I have misplaced my sheet that I sent in and I want to confirm they have received it.  Thanks.

 
The case is Weaver v Edward Jones.  You can call to check if your "consent to join form" was received in good order at 1-888-356-0158.  As of today they have no idea when the checks will be sent.  The 60 day appeals period does not expire until early March. 
Feb 11, 2009 6:54 pm

Still have the "bond aggregate Rule"?  can someone explain that one to me?thanks

Feb 11, 2009 6:56 pm

yes yes yes....they have a tues, thurs and sat promo's. sometimes (like lately) when things are really bad Jim W. works...it is soooooooooo exciting, if you work, he may call your office or he might answer if you call stl on saturday. It is sooooooooo exciting I can hardly sleep on Friday when JW is working on Saturday's promo. gotta love Jones

Feb 11, 2009 10:29 pm

I called the settlement administrator this afternoon (thanks for providing the number!) to check the status of my paperwork and was told checks are going start being mailed on Thursday, February 26.  I told the lady I spoke with that I thought it would be March and/or April, and she said "no, everything was settled in January."

Feb 12, 2009 6:13 am

oh no...we will miss our commision free day on the 19th? so sad!!

Feb 12, 2009 11:46 am

I called the 800 number on my claim form and talked to the company that sued Jones.  They informed me that there is a 60 day grace period in which Jones is allowed to file an appeal from when the claim is settled, which was Jan 5.  This means that the earliest a check could go out would be March 5.  They also informed me that if Jones appeals, it could be months or even years before the checks go out.   Might not want to schedule that cruise just yet.

Feb 12, 2009 12:16 pm
monopolybet:

Still have the "bond aggregate Rule"?  can someone explain that one to me?thanks



 
If I remember correctly, it's like breakpoints for bonds isn't it?