FINRA awards $1.4 million to NBA star for Regions Morgan Keegan losses

September 16th, 2009 by Wendi Lewis

Chicago Bulls 100x100On Friday, the () awarded $1.4 milion to ex-Chicago Bulls star Horace Grant as compensation for losses the NBA star suffered as a result of in Regions Morgan Keegan bond funds. There are numerous lawsuits pending against the financial management company as a result of the funds, which investors allege were represented as low-risk, but which were actually tied to the volatile market. When the market crashed, investors lost up to 80 percent of their investment, almost overnight.

is the money management industry’s regulatory organization, and is overseeing hundreds of arbitration complaints from investors.

Recently, Morgan Keegan made a surprising decision to appeal three of the judgments, which had been decided by in favor of the investors. Those cases are now tied up in further litigation. Other suits are still pending review.

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This entry was posted on Wednesday, September 16th, 2009 at 2:16 pm and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

  • http://www.morgankeegan-lawsuit.com/news/2010/07/06/judge-upholds-1-4-million-award-for-morgan-keegan-investment-loss/ Morgan Keegan Investment Fraud: Judge upholds $1.4 million award for Morgan Keegan investment loss | Beasley Allen

    [...] In his 27-page opinion, U.S. District Judge S. James Otero disagreed with Morgan Keegan, and sided with the Financial Industry Regulatory Authority (FINRA), which is acting as arbitrator in these cases. According to a report in the Memphis Daily News, the judge said Morgan Keegan – which is based in Memphis – did not have sufficient grounds to challenge the award, which was presented in September 2009 and reported on this blog. [...]

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