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St. Louis-based financial services firm Edward Jones has been ordered by a federal judge to pay a $34 million settlement for bias claims by Black financial advisors, Reuters first reported. The firm is known for serving individual investors and boasts more than 19,000 financial advisors. This settlement comes after Stowell & Friedman filed a class-action lawsuit in 2018 on behalf of roughly 800 Black financial advisors. The official complaint was “race discrimination,” states a court filing that names Wayne Bland as the main plaintiff in the class action case. The Black financial advisors accused Edward Jones of assigning them to less lucrative work, denying them working with certain high-level client accounts, and depriving them of advancement opportunities. In the case represented, Edward Jones, which Dowd Bennett denied wrongdoing, went as far as to try to get the case dismissed since it claimed that the named plaintiffs failed to provide more than speculative claims in the...
On Friday, Media mogul Byron Allen and his company CF Entertainment filed a formal lawsuit against ratings provider The Nielsen Company for reportedly having “predatory pricing,” according to The Hollywood Reporter . THR reports CF Entertainment has sued Nielsen “for breach of contract and unfair competition and unjust enrichment.” The media company claims that Nielsen is extorting it over ratings and “can’t do business with advertisers without that information.” CF’s Attorney Sean Berkowitz filed a formal complaint detailing the accusations stating: “Nielsen’s stranglehold on viewership data and the fact that it supplies the only currency accepted by advertisers gives it lopsided leverage when entering into ratings agreements with broadcasters such as CF Entertainment. Nielsen knows that its ratings information is essential to a network’s ability to recover revenue from advertisers, because advertisers only pay based Nielsen’s upon proof of performance. If a network cannot provide...
Netflix and Ava DuVernay’s “When They See Us” miniseries has had a major impact on our social atmosphere and altered the way society as a whole views our criminal justice system. However, for others, its impact included calling their careers and credibility into question. One of whom happened to be Linda Fairstein, the former prosecutor responsible for the convictions of the Exonerated Five. Fairstein is now taking legal action against Netflix and Ava DuVernay after making claims that the miniseries “defamed” her. Released in May 2019, the four-part miniseries chronicled the true events of the arrests, trials, convictions, and exonerations of five teenagers of color — Antron McCray, Kevin Richardson, Yusef Salaam, Raymond Santana, and Korey Wise — who became known as the Exonerated Five. In the miniseries, Fairstein was portrayed as a power-hungry prosecutor directing officers to coerce false confessions out of the five then-teenagers, while detectives held them in questioning for...