Morgan Keegan Investment Fraud » Kansas City http://www.morgankeegan-lawsuit.com Mon, 10 Oct 2011 15:32:29 +0000 en hourly 1 http://wordpress.org/?v=3.1.2 Investors, 6 Morgan Keegan, 0 http://www.morgankeegan-lawsuit.com/news/2009/04/14/investors-6-morgan-keegan-0/ http://www.morgankeegan-lawsuit.com/news/2009/04/14/investors-6-morgan-keegan-0/#comments Tue, 14 Apr 2009 18:24:31 +0000 Wendi Lewis http://www.morgankeegan-lawsuit.com/?p=131 SOURCE: Morgan Keegan Investment Fraud › Investors, 6 Morgan Keegan, 0

]]> Morgan Keegan has suffered it sixth straight loss in arbitration negotiations with investors who claim they lost substantial amounts of money when misrepresented its bond funds. The suits claim presented the bond funds as low-risk , when they actually were tied to the volatile mortgage bond market. When the subprime mortgage lending crisis reached a peak, many investors lost up to 80 percent of their money almost overnight.

This week, Morgan Keegan & Co., a subsidiary of Regions Financial Corp., was ordered to pay $950,000 to investor Jerome Woods, whose claim included allegations of fraud, negligence and a breach of fiduciary duty by Morgan Keegan. Woods  is a former NFL defensive back, playing for the Kansas City Chiefs from 1996-2005.

According to a report in the Investment News, Woods was involved in four investment funds: The High-Income Fund, the Advantage Fund, the Strategic Income Fund and the Multi-Sector High Income Fund.

Arbitrators have awarded investors more than $1.6 million to date.

SOURCE: Morgan Keegan Investment Fraud › Investors, 6 Morgan Keegan, 0

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