Posts Tagged ‘ AG Edwards ’

AG Edwards Class Action - Update 1

November 11th, 2009. By LucyC

AG Edwards class actionWe’ve had a lot of interest from you about the status of the A.G. Edwards class action and what, if any mutual funds may be involved. This is what we’ve managed to find out—we hope it helps. We’ll continue to follow this for you, so keep your questions coming. 

First off, why where you notified about the AG Edwards (AGE) Class Action? 

According to official documentation provided on the AGE class action website:

“Records show that you maintained a brokerage account at A.G. Edwards in which you may have held shares of any mutual funds that were advised by, distributed by, or in any way related to companies that compensated A.G. Edwards based, at least in part, upon the holdings of A.G. Edwards’ clients in the respective mutual funds during any part of the period beginning on April 12, 2000 and ending on April 12, 2005. This notice explains that the Court has allowed, or “certified” a class action lawsuit that will affect you if you are a member of the Class.”

So, a class has been certified, which means the lawsuit can proceed as a class action. No determination of right or wrong has been made—and that could be decided in court. Again, according to the official documentation: 

“The Court has not decided whether A.G. Edwards or the Plaintiffs are correct. By establishing the Class and issuing this Notice, the Court is not suggesting that the Plaintiffs will win or lose the case. The Plaintiffs must prove their claims at a trial scheduled to start on December 14, 2009.”

So what AG Edwards mutual funds qualify?

According to the documentation, the following is a list of mutual funds “that might be involved:” 

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Posted in Class Action, Financial | 14 Comments »

A.G. Edwards…Going Somewhere?

November 9th, 2009. By LucyC

AG Edwards...fully invested and then someWay back in 2005, a class action lawsuit was filed against AG Edwards (now part of Wachovia), alleging that the investment company was not playing by the rules. On Friday—yes that’s over four years later—a website popped up with some information on the AG Edwards class action suit. 

Just in case the details of the suit don’t come flooding back—here’s what you need to know: 

What are the Allegations Against AG Edwards?

“This lawsuit is about whether A.G. Edwards breached its fiduciary duties to Plaintiffs, owners of A.G. Edwards accounts which held shares of mutual funds, and all others similarly situated, and whether, as a result of those breaches, A.G. Edwards has been unjustly enriched by receiving millions of dollars in payments from mutual fund companies whose mutual funds were held by Plaintiffs. A.G. Edwards denies these allegations and the Court has not decided whether A.G. Edwards or the Plaintiffs are correct.” 

Are You In or Out?

Are you eligible to join the AG Edwards class action lawsuit?

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Posted in Class Action, Financial | 30 Comments »

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