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

I just received this letter from the CFP Board. Thank you, Thank you, THANK YOU!

David Y

LATEST NEWS AND ARTICLES

September 17, 2025
FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales

FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.

September 16, 2025
Former Morgan Stanley Advisors Win Partial Court Victory in Client Solicitation Dispute

Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.

September 15, 2025
California Young-Gun Investor Charged in Alleged $6 Million Ponzi Scheme

Federal prosecutors have accused Mihir Deepak Sukthankar, a California resident once celebrated as a teenage trading “prodigy,” of orchestrating a multi-million-dollar Ponzi scheme.