Morgan Keegan recently suffered two more arbitration losses related to its collapsed bond funds. On April 23, 2009 an arbitration panel in Alabama awarded two investors compensatory damages totaling over $76,000 as well as an award of costs in connection with losses they suffered as a result of an investment in the Morgan Keegan bond […]
On March 11, 2009, an Alabama Financial Industry Regulatory Authority (FINRA) arbitration panel awarded Phillip Willingham and Melinda Oates $187,000 for their claim against Memphis-based Morgan Keegan. Morgan Keegan later asked the FINRA Panel to correct its award, which was amended and clarified by the Panel on April 14, 2009. The newly amended award finds […]
Morgan Keegan recently suffered it sixth straight loss in arbitration related to its collapsed bond funds. Jerome Woods, who played defensive back for the Kansas City Chiefs, recently received an arbitration award of $950,000 in connection with losses he suffered as a result of an investment in the Morgan Keegan bond funds. A review of […]
Another investor received an arbitration award last week in connection with losses suffered as a result of an investment in the Morgan Keegan bond funds. Last week, an arbitration panel in San Francisco awarded an investor $267, 711 plus interest as a result of an investment in the collapsed funds. The award in San Francisco […]
News stories and congressional inquiries into financial scams perpetrated by Madoff, Stanford and others have shined a light on the problem of lax enforcement of securities laws and rules by regulators. Recent trends suggest that arbitrators, however, are increasingly cognizant of their importance in the process of requiring financial firms to comply with applicable securities […]
A Birmingham, Alabama FINRA arbitration panel recently awarded $187,000 to a retired cattle farmer from York, Alabama for losses suffered as a result of misconduct associated with the sale of Morgan Keegan bond funds. At issue were the representations and disclosures made in selling seven former Regions Morgan Keegan bond funds that have lost 90 […]
Investors who still hold auction-rate securities are facing many increasing problems, according to an article in today’s Bloomberg.com by Michael McDonald. Last February, the $330 billion market for auction-rate securities essentially froze when major Wall Street firms discontinued supporting auction-rate securities. A year later, investors are still stuck with as much as $176 billion of […]
Time may be running out on certain auction-rate securities claims. Some investors may need to act promptly if they wish to protect their rights. The laws of each state establish time limits (statutes of limitations) within which legal claims must be asserted. Those time limits vary from state to state. Claims not brought within the […]
The subprime and credit crises have resulted in a surge of fraudulent misrepresentation and omission cases against Wall Street firms. A rising stock market concealed many such abuses because values were rising, making fraudulent misrepresentations and omissions hard to identify. Recently, however, many of these misrepresentations and omissions have become apparent. For example, many risk-averse […]
The subprime and credit crises affecting the economy have revealed an array of suitability abuses by Wall Street investment firms. While a rising stock market hides many abuses by brokerage firms, suitability abuses are more easily identifiable when times are tough. For example, many risk-averse investors with conservative objectives have recently discovered that they have […]
