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Rating:Morgan Keegan Will Shell Out $1.46 Million to a Bull Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, September 15, 2009

Morgan Keegan Will Shell Out $1.46 Million to a Bull

News summary by MFWire's editors

Regions just received more bad news related to the Morgan Keegan mutual funds. The Wall Street Journal's Suzanne Barlyn reports that Horace Grant, the retired professional basketball player, won a $1.46 million arbitration award involving four Regions Morgan Keegan funds: Advantage Income Fund, High Income Fund, Multi-Sector Income Fund and Strategic Income Fund.

Regions sold its $2 billion-AUM retail mutual fund business to Pioneer Investment Management earlier this year. The Associated Press reports that Grant initiated his Finra case, which relates to fund losses blamed on mortgage-based collateralized debt obligations, in March 2008.

Grant retired from the NBA in 2004 after playing for both the Chicago Bulls and the Los Angeles Lakers. 

Edited by: Neil Anderson, Managing Editor

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