Morgan Keegan Investment Fraud Lawyer
Alabama Regions Bond Funds Attorney
MORGAN KEEGAN
CWCD STAFF:
Ryan Lutz (rlutz@cwcd.com,
Ernest
Cory (ecory@cwcd.com,
Leila
Watson (lwatson@cwcd.com,
PRODUCT: Regions
Morgan Keegan (
ISSUER: Morgan Keegan
TARGET INJURY: Monetary losses.These Funds were
invested in securities which were illiquid, risky, and not easily valued. The Funds invested heavily in mortgage backed
securities (
Additionally, the Funds invested over 50% of the portfolio in the mortgage industry, despite restrictions of 25%. The Funds invested in over 50% of the portfolio in securities which were illiquid, despite restrictions of 15%. As a result, the Funds’ and its managers misrepresented and/or omitted the nature and risk of the investment and failed to follow its own restrictions.
PRODUCT STATUS: Still available, generally worthless, untradeable and unsalable.
LITIGATION STATUS: Class action lawsuit is pending in Federal District Court-Memphis,
OTHER INFORMATION: CWCD is accepting cases for litigation.
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