Morgan Keegan Investment Fraud » attorneys http://www.morgankeegan-lawsuit.com Mon, 10 Oct 2011 15:32:29 +0000 en hourly 1 http://wordpress.org/?v=3.1.2 Morgan Keegan hearing set for October in Montgomery, Ala. http://www.morgankeegan-lawsuit.com/news/2010/05/05/morgan-keegan-hearing-set-for-october-in-montgomery-ala/ http://www.morgankeegan-lawsuit.com/news/2010/05/05/morgan-keegan-hearing-set-for-october-in-montgomery-ala/#comments Wed, 05 May 2010 19:31:29 +0000 Wendi Lewis http://www.morgankeegan-lawsuit.com/?p=210 SOURCE: Morgan Keegan Investment Fraud › Morgan Keegan hearing set for October in Montgomery, Ala.

]]> An administrative hearing to discuss allegations of fraud against Morgan Keegan & Co. has been set for October 5, 2010, in Montgomery, Ala. Morgan Keegan is owned by Regions Financial Corp., based in , Ala. Numerous have been filed against the company, alleging it misrepresented high-risk funds tied to the volatile mortgage bond markets as “safe” or low-risk investments.  As a result, allege investors lost huge portions of their funds almost overnight. It is estimated that losses may top $2 billion.

The administrative action is the culmination of a multi-state investigation involving six mutual funds sold by Morgan Keegan broker dealers to approximately 13,000 customers. Those six mutual funds lost approximately $2 billion in value from March 31, 2007 to March 31, 2008.

The states of Mississippi, , Kentucky and South Carolina, along with the Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) announced administrative actions against Morgan Keegan, which is based in Memphis, Tenn., on April 7.

The Joint Administrative hearing includes Mississippi, , South Carolina and Kentucky, and will be held at the offices of the Securities Commission in Montgomery, Ala., on Tuesday, Oct. 5, 2010 beginning at 9 a.m. CST. The hearing was requested by attorneys representing Morgan Keegan, Morgan Asset Management, James C. Kelsoe, Jr., Brian B. Sullivan, Gary S. Stringer and Michele F. Wood as Respondents.

SOURCE: Morgan Keegan Investment Fraud › Morgan Keegan hearing set for October in Montgomery, Ala.

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