According to a March 12, 2009 Reuters article a Birmingham, Alabama FINRA arbitration panel awarded $187,000 to a retired cattle farmer from York, Alabama for losses suffered in Morgan Keegan bond funds.
This is believed to be the largest arbitration award against Regions Financial Corp.’s (NYSE:RF) Morgan
Keegan division for its sale of bond funds that cost investors an estimated 2 Billion
The Morgan Keegan bond funds that are reportedly the subject of hundreds of
investor arbitrations include the following:
* Regions Morgan Keegan Select High Income-A, (Sym: MKHIX)
* Regions Morgan Keegan Select High Income-C, (Sym: RHICX)
* Regions Morgan Keegan Select High Income-I, (Sym: RHIIX)
* RMK High Income Fund, (Sym: RMH)
* RMK Strategic Income Fund, (Sym: RSF)
* Regions Morgan Keegan Select Intermediate Bond Fund-A,
* Regions Morgan Keegan Select Intermediate Bond Fund-C,
* Regions Morgan Keegan Select Intermediate Bond Fund-I,
* RMK Multi-Sector High Income, (Sym: RHY)
* RMK Advantage Income, (Sym: RMA)
Since the litigation began, the funds have been sold and have been renamed to Helios to reflect the funds’ new management group.
Our office is currently filing and litigating arbitration claims related to RMK bond fund losses. If you have losses associated with any of the above RMK Bond and Income Funds, please contact our office for a free case evaluation. Thank you.