Tr?id=566623520170033&ev=PageView&noscript=1

Edward Jones Files Motion to Dismiss $15 Million Book of Business Lawsuit

Posted on May 24th, 2022 at 12:13 PM

From the Desk of Jim Eccleston at Eccleston Law:

A former Edward Jones advisor has filed suit against Edward Jones over a $15 million book of business. 

Brandon Johnson alleges that Edward Jones "failed to disclose material facts about internal asset sales to new Edward Jones Financial Advisors” and “used high pressure sales techniques” to sell him a book of business that Edward Jones “knew was statistically likely to fail.” Johnson further alleged that Edward Jones intentionally withheld the information.

In response, Edward Jones filed a Motion to Dismiss the Amended Complaint and to Compel Arbitration. However, after reviewing Johnson’s amended complaint, the court noted that Johnson’s three-page “Statement of Claim” did not include numbered paragraphs and failed to list any counts or identify which defendants were to face each claim. Since the amended complaint failed to specify the claims against each defendant as well as the grounds underlying each claim, the court ultimately granted Edward Jones’ Motion to Dismiss, which disposed of Johnson’s “shotgun pleading.”

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

 
 

Tags: eccleston law, edward jones, advisor

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

You are the best attorneys in the country.

CC

LATEST NEWS AND ARTICLES

1776438642 Law
April 17, 2026
Florida Advisor Sentenced to 90 Months for Foreign Currency Ponzi Scheme and Tax Evasion

A federal court sentenced John A.

1776353258 Law
April 16, 2026
Former Financial Advisor Pleads Guilty to $10 Million Fraud Scheme Targeting Elderly Client

A former financial advisor has pleaded guilty to wire fraud after orchestrating a scheme that stole nearly $10 million from an elderly client, according to reporting by Financial Advisor News.

1776286541 Law
April 15, 2026
Court Issues Split Ruling in Edelman Advisor Dispute

A federal court in Delaware has delivered a mixed decision in a dispute between Edelman Financial Engines and Prime Capital Financial, underscoring the legal limits of restrictive covenants in the advisory space.