Request Legal Help Now - Free
LAWSUITS NEWS & LEGAL INFORMATION

Morgan Keegan Agrees $62M Settlement in Investment Fraud Class Action Lawsuit


This is a settlement for the Regions Morgan Keegan Funds lawsuit.

New York, NY: Morgan Keegan & Co. Inc. has agreed to pay $62 million as part of a preliminary settlement of a securities class action involving more than 10,000 nationwide clients. The Commercial Appeal reports the terms of the settlement won't force the investment firm to admit any wrongdoing resulting from the 2008 meltdown of its mutual funds.

The lead plaintiff in this class action lawsuit is a Texas hedge fund which claimed a $2.1 million investment in Morgan Keegan's closed-end mutual funds.

The settlement remains to be approved by a federal judge, and if approved, will leave one more class action outstanding against the investment firm, this one related to conventional mutual funds.

Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please fill in our form.
Published on Oct-19-12

LEGAL ARTICLES AND INTERVIEWS

Morgan Keegan Settlement “Not Fair,” Says Attorney
Morgan Keegan Settlement “Not Fair,” Says Attorney
April 12, 2013
Chicago, IL Attorney Howard Prossnitz firmly believes his clients and many of the 12,000 other Morgan Keegan (MK) bond investors that filed a securities fraud class action against the now-defunct investment firm Morgan Keegan are being offered a raw deal READ MORE

ADD YOUR COMMENT ON THIS ISSUE

Fields marked * are mandatory. Please read our comment guidelines before posting.

*Name:

Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.
*Your Comment:

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.
Request Legal Help Now! - Free