The SEC has a settlement ready with eight former mutual fund directors at Morgan Keegan, according to reports from Bloomberg.

The settlement is in relation to charge from 2010 claiming the directors didn't do enough to figure out how securities were valued, according to reporters Dave Michaels and Zeke Faux.

The eight directors named, according to Bloomberg, were J. Kenneth Alderman, Jack R. Blair, Albert C. Johnson, James Stillman R. McFadden, Allen B. Morgan Jr., W. Randall Pittman, Mary S. Stone and Archie W. Willis III.

None of the lawyers involved in the case commented.

For more details, check out the original article here. 

Edited by: Ben Geier


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