Earl Jones victims can sue Royal Bank

CBC News

A Quebec court has authorized a class-action lawsuit against the Royal Bank of Canada launched by victims of convicted fraudster Earl Jones.

The Quebec Superior Court granted permission Wednesday for the $40-million action, launched earlier this year against RBC, where Jones conducted most of his business. The former Montreal financial adviser fell from grace when his Ponzi scheme was revealed last summer.

Appearing at the Montreal courthouse, lawyers for the Royal Bank said they would not challenge a motion filed by the victims’ group seeking authorization to sue.

Read more: http://www.cbc.ca/canada/montreal/story/2010/07/14/royal-bank-class-action-lawsuit.html#ixzz0tgBOHMAf

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