Morgan Keegan Fraud Lawyers
As investors continue to pursue individual arbitration claims and lawsuits to recover money lost in Regions Morgan Keegan bond funds, the U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and state financial regulators from several states have accused Morgan Keegan of committing fraud and costing investors more than $1 billion.
>>INFORMATION: Morgan Keegan Fraud Lawsuits
The stock broker fraud lawyers at Saiontz & Kirk, P.A. are continuing to review potential arbitration claims for individual investors throughout the United States to recover financial losses as a result of investments in any of the following Morgan Keegan bond mutual funds:
- Regions Morgan Keegan Select High Income
- Regions Morgan Keegan High Income Fund
- Regions Morgan Keegan Strategic Income Fund
- Regions Morgan Keegan Select Intermediate Bond Fund
- Regions Morgan Keegan Multi-Sector High Income
- Regions Morgan Keegan Advantage Income
While a number of Morgan Keegan bond fund arbitration claims have already resulted in millions of dollars in losses being returned to investors, these new charges of fraud and reckless business practices from federal and state regulators reinforce the allegations raised on behalf of investors who have lost their hard-earned savings.
Morgan Keegan & Co. committed fraud against bond fund investors by purposefully deceiving them about the value of bond fund investments, according to new charges leveled against the brokerage by the SEC, FINRA and state financial regulators from Mississippi, Alabama, Kentucky and South Carolina.
The SEC says that employees of the company manipulated data to make the funds appear stronger even as the bottom fell out. One fund manager, James C. Kelsoe, allegedly issued nearly 300 “price adjustments” that arbitrarily increased the value of the fund even while it was in decline
FINRA has charged Morgan Keegan, a subsidiary of Regions Financial Corp., with failing to abide by “just and equitable principals of trade,” according to James Shorris, the authority’s acting chief of enforcement. Shorris said Morgan Keegan violated advertising rules and supervision rules.
The state charges add claims that the company specifically concentrated high risk on investors who were retired or near retirement, and who owned low-risk CDs. The states are threatening to not only force Morgan Keegan to pay back investors, but are also considering revoking the company’s license to operate in those states.
MORGAN KEEGAN FRAUD LAWSUITS
Information about potential Morgan Keegan class action suits and individual investor claims was first posted on this website in January 2008. Since that time, our Morgan Keegan fraud lawyers have spoken with investors throughout the United States have lost money as a result of bond fund investments they were led to believe were a safe, low risk investment.
If you, a friend or family member have experienced substantial losses as a result an investment in a Morgan Keegan bond mutual fund, request a free consultation and claim evaluation.
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