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Rating:Horace Grant Attacks a Fund Firm for $3M Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, November 03, 2010

Horace Grant Attacks a Fund Firm for $3M

News summary by MFWire's editors

Morgan Keegan [see profile] continues to duke it out with former Chicago Bulls star Horace Grant. In September 2009 Grant won a $1.46 million arbitration award from the fallen mutual fund firm over losses thanks to mortgage-based collateralized debt obligations in four mutual funds (see The MFWire, 9/15/2009), a ruling Morgan Keegan continues to fight against. Now the Wall Street Journal's Suzanne Barlyn reports that Grant has filed another arbitration claim (this one for $3 million) against the Regions subsidiary.

The new claim stems from Morgan Keegan's delay in paying the $1.46 million Grant previously won, as Grant claims losses from having to cash his NBA pension out for a lump sum in the interim.

Regions sold its retail mutual fund business to Pioneer Investment Management last year (see The MFWire, 1/22/2009). 

Edited by: Neil Anderson, Managing Editor

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