More Information Releaed on Morgan Keegan RMK Bond Fund Probe

Representing Investors Nationwide

Additional information was released last week regarding the SEC’s probe of the Morgan Keegan RMK bond funds. Apparently, state regulators are now getting into the game. The investigation results will determine if and how many securities related charges will ultimately be filed against Morgan Keegan for its sale and management of the funds. The article appears below:

Regions Financial Corp., the Birmingham, Ala.-based parent company of Memphis-based Morgan Keegan & Co. Inc., disclosed in a regulatory filing this week more information about the multiple regulatory probes into Morgan Keegan and the group of toxic mutual funds the firm once sold.

In addition to investigations from staff of the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority, Regions said state securities regulators also are in the mix.

“A joint state task force has indicated that it is considering charges against Morgan Keegan, related entities and certain of their officers in connection with sales of the funds,” the disclosure reads. “Discussions are ongoing with the state securities commissioners in the task force about the proposed charges and possible resolutions.”

In the Sept. 24, 2008, issue of The Memphis News, sister publication of The Daily News, more details of the state probe into the Morgan Keegan mutual funds were reported. At that time, eight state securities regulators were investigating the issue.

If you have lost money related to the Regions Morgan Keegan RMK bond funds, please contact this office for a complimentary case evaluation. Thank you.