Atlanta-based James Dunlap & Associates has filed an arbitration claim with FINRA's Office of Dispute Resolution against Morgan Keegan & Company on behalf of investors who suffered losses in the Regions Morgan Keegan bond funds.

A Morgan Keegan spokesperson was not immediately available for comment.

According to the statements of claim, the investors sustained losses in the funds caused by Morgan Keegan's false and misleading statements about the fund's risk tolerance, asset allocation, lack of diversification and the lack of suitability for claimants.

The law firm has filed claims on behalf of other investors in the bond funds.

---

Press Release

ATLANTA, Oct 6, 2008 (GlobeNewswire via COMTEX) -- The Law Firm of James A. Dunlap Jr. & Associates LLC ( http://www.jamesdunlaplaw.com) announced that it filed an arbitration claim against Morgan Keegan & Company, Inc., with the Financial Industry Regulatory Authority's ("FINRA") Office of Dispute Resolution. The claims were filed for losses sustained in the Regions Morgan Keegan Bond Funds.

According to the Statements of Claim, the Claimants sustained losses in the Morgan Keegan Funds caused by Morgan Keegan's false and misleading statements about the Fund's risk tolerance, asset allocation, lack of diversification, and lack of suitability for the claimants. The Claims also allege that Morgan Keegan violated Rule 10b-5 of the Securities Exchange Act of 1934, as well as applicable state securities laws. James A. Dunlap Jr. & Associates LLC and affiliated attorneys have filed arbitration claims on behalf of other investors in the Regions Morgan Keegan Bond Funds from across the country. The arbitration claims involve losses in the following Morgan Keegan Bond Funds:

RMH RMK High Income Fund
RHY RMK Multi-Sector High Income Fund
RMA RMK Advantage Income Fund
RSF RMK Strategic Income Fund
RHICX Regions MK Select High Income-C
MKHIX Regions MK Select High Income-A
RHIIX Regions MK Select High Income-I
RIBCX Regions MK Select Intermediate Bond Fund-C
MKIBX Regions MK Select Intermediate Bond Fund-A
RIBIX Regions MK Select Intermediate Bond Fund-I

Specific information about the Morgan Keegan fund claims can be reviewed at http://www.jamesdunlaplaw.com/cms.php?id=36.

 

Edited by: Armie Margaret Lee


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE