News for 2008

CountryMark Losses

In February, the Indianapolis Business Journal reported one of its locally based companies, CountryMark Cooperative, was joining the against Morgan Keegan, which it says fraudulently invested funds in high-risk mortgaged-based securities. CountryMark alleges misrepresentation of funds, saying Morgan Keegan presented its investment portfolio as low-risk.

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Subprime Mess at Morgan Keegan

Another class-action related to issues regarding the disclosure of subprime debt obligations surfaced in early February when the law firm of Chitwood, Harley, Harnes LLP filed against certain mutual funds offered by Morgan Keegan Select Fund Inc.

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