MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, October 26, 2012 Horace Grant's Case Against Morgan Keegan Is a Slam Dunk Swish. That's the sound of ex-NBA All Star and four-time champion Horace Grant winning a $1.45 million arbitration award in a suit against Morgan Keegan. The suit originated after Grant suffered losses in Morgan Keegan mutual funds that melted down during the financial crisis. The Ninth Circuit of the U.S. Court of Appeals upheld the ruling yesterday, ending a four year legal struggle, reported Reuters. Grant filed the case because he invested in bond fonds that were marketed as safe but were, in reality, risky. Morgan Keegan's appeal claimed that the arbitrators "may have been biased, prejudged the outcome or exceeded their power," according to Reuters. The article did not identify which funds Grant had invested in. This news follows a decision earlier this week requiring Morgan Keegan to pay $9.2 million to investors. Printed from: MFWire.com/story.asp?s=41803 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |