Have you lost your savings that was invested in Morgan Keegan Bond Mutual Funds?
You may be a victim of the Morgan Keegan bond mutual funds fraud.
Several Morgan Keegan bond mutual funds have significantly decreased in value during the sub-prime mortgage collapse. To date, the Morgan Keegan Select Intermediate Bond Fund and the Morgan Keegan Select High Income Fund are down 47% and 56%, respectively. Other funds with similar exposure to the sub-prime lending debacle may have suffered similar losses. The losses are only expected to continue and worsen.
Morgan Keegan, a division of Regions Financial Corporation, is a regional brokerage firm with offices throughout the southeast United States.
Many of you lost your hard-earned savings because the funds and the brokers who sold these funds misrepresented or failed to disclose material facts relating to the nature and extent of the risks associated with Morgan Keegan bond funds.
You may have not been informed that these Morgan Keegan Bond products were invested in the subprime mortgage market. The Morgan Keegan funds were promoted as a relatively conservative investment option without excessive risk. Morgan Keegan may have failed to disclose the risks associated with sub-prime mortgages. This exposed investors to risks they may not have been willing to accept if they were fully informed of facts surrounding the investments by the mutual funds.
If you suffered a financial loss with Morgan Keegan bond funds or similar investments, you may be entitled to compensation. We represent honest consumers and institutional investors who were misled in perhaps the most costly mortgage market collapse of our time.
Morgan Keegan class actions have been filed on behalf of investors who thought they were putting their money in relatively low risk bond funds. Our lawyers are reviewing potential claims on behalf of investors, as they may be better able to recover their financial losses through an individual claim instead of filing a claim through the class action. The class action suits are being pursued on behalf of investors who purchased or acquired shares between December 6, 2004 and October 3, 2007.
The Funds revealed, for the first time, on October 3, 2007 that, as of June 30, 2006, and June 30, 2007, the magnitude of the Funds’ securities were “fair valued” and were, therefore, illiquid securities. The pertinent Regions Morgan Keegan (“RMK”) Funds are as follows:
- (RMH) RMK High Income Fund
- (RHY) RMK Multi-Sector High Income Fund
- (RMA) RMK Advantage Income Fund
- (RSF) RMK Strategic Income Fund
- (RHICX) Regions MK Select High Income-C
- (MKHIX) Regions MK Select High Income-A
- (RHIIX) Regions MK Select High Income-I
- (RIBCX) Regions MK Select Intermediate Bond Fund-C
- (MKIBX) Regions MK Select Intermediate Bond Fund-A (RIBIX) Regions MK Select Intermediate Bond Fund-I
To find out if you, a friend, or family member can recover for your financial losses in any of the above-referenced funds, please call the business litigation attorneys at Morris, King & Hodge, P.C., toll free at 1-888-321-8353, today, for a free consultation. We can fight to get you the financial compensation you deserve on a contingency basis – so that you don’t pay us unless we recover for you.
“No representation is made that the quality of legal service to be performed is greater than the quality of legal services performed by other lawyers.”
Copyright © 2010, WHNT-TV