Beasley, Allen, Crow, Methvin, Portis & Miles, P.C.

According to a report in U.S. News & World Report, recent statistics released by the Financial Industry Regulatory Authority (FINRA), the organization that handles almost all securities arbitration, including claims by Regions Morgan Keegan investors, show there has been a notable increase in the number of filings. In particular, the organization is seeing an increase in claims involving bond funds, which are represented as generally secure investments.

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Regions Financial Corp., based in Birmingham, Ala., was on the recent Market Watch list of “notable moves” in the stock market. Unfortunately for the company, it was listed alongside General Motors (GM) on the list of “decliners” after experiencing a 5.9 percent drop in stock value.

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The Daily News, which covers Memphis, reported yesterday that class action cases against Regions Morgan Keegan (RMK) pending in U.S. District Court for the Western District of Tennessee may be consolidated under U.S. District Judge Hardy Mays. The paper reports Judge Mays issued a ruling Tuesday that answers some questions about the request, and which group or groups could be selected as lead plaintiff in that event.

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Another class-action lawsuit 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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