News Tagged ‘Alabama’

RMK investor awarded more than $250,000 to cover bad fund losses

Earlier this month, it was announced that Morgan Keegan & Co., the brokerage firm owned by Regions Financial Corp., would be required to repay an investor $267,711 for losses suffered by the collapse of Regions Morgan Keegan investment funds. According to CCNMoney, this is the largest bond fund arbitration award to date.

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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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