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.
Published on Oct-19-12
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.
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Morgan Keegan Settlement “Not Fair,” Says Attorney
April 12, 2013
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
