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Displaying 10 out of 27 results

Rote v Morgan Keegan - $400,000 (MKIBX, RMH) Award

In February 2012, a FINRA arbitration panel in Memphis, TN ordered Morgan Keegan to pay $400,000 in damages to Claimants after a hearing in which Claimants alleged that Morgan Keegan misrepresented the risks of the Select Intermediate Bond Fund (MKIBX) and the High Income Fund (RMH). Dr. McCann testified on behalf of the Claimants.

Callas Foundation, Inc. v Morgan Keegan - $265,000 (RMA, RHY) Award

In January 2012, a FINRA arbitration panel in Atlanta, GA ordered Morgan Keegan to pay Claimants $231,337 in compensatory damages plus interest at the rate of 7% accruing from November 15, 2009 until the date of payment in connection with Morgan Keegan's sale of the RMK Advantage Income Fund (RMA) and RMK Multi-Sector High Income Fund (RHY). Dr. O'Neal testified on behalf of Claimants.

Pelican Holdings et al v Morgan Keegan - $889,340 (MKIBX, RMA) Award

In November 2011, a FINRA arbitration panel in Memphis, TN ordered Morgan Keegan to pay Claimants $889,340 in connection with Morgan Keegan's sale of the RMK Select Intermediate Fund (MKIBX) and the RMK Advantage Income Fund (RMA). Dr. O'Neal testified on behalf of Claimants.

Christian Brothers University v Morgan Keegan - $500,000 (MKHIX) Award

In September 2011, a FINRA arbitration panel in Memphis, TN ordered Morgan Keegan to pay the Christian Brothers University Endowment Fund $432,061 plus interest in connection with Morgan Keegan's sale of the RMK Select High Income Fund (MKHIX). Dr. O'Neal testified on behalf of the Christian Brothers University.

Albertine et al v Morgan Keegan - $881,000 (MKIBX, RHY, RSF, RMA, RMH) Award

In April 2011, a FINRA arbitration panel in Memphis, TN ordered Morgan Keegan to pay the Claimants $881,000 in compensatory damages and expert witness fees in connection with Morgan Keegan's sale of the RMK Select Intermediate Bond (MKIBX), High Income (RMH), Advantage Income (RMA), Strategic Income (RSF) and Multi-Sector High Income (RHY) funds. Dr. McCann testified on behalf of the Claimants.

Karrels v Morgan Keegan - $373,135 (MKIBX) Award

In February 2011, a FINRA arbitration panel in Memphis, TN ordered Morgan Keegan to pay the Claimant $373,135 in compensatory damages, attorneys' fees and expert witness fees pursuant to the Tennessee Securities Act in connection with Morgan Keegan's sale of the RMK Select Intermediate Bond Fund (MKIBX). Dr. McCann testified on behalf of the Claimant.

Liles v Morgan Keegan - $81,291 (RHY) Award

In February 2011, a FINRA arbitration panel in Houston, TX ordered Morgan Keegan to pay the Claimant $81,291 in compensatory damages and costs including expert witness fees in connection with Morgan Keegan's sale of the RMK Multi-Sector High Income Fund (RHY). Dr. McCann testified on behalf of the Claimant.

Flautt v Morgan Keegan - $2,138,805 (MKHIX, RSF, RHY) Award

In November 2010, a FINRA arbitration panel in Boca Raton, FL ordered Morgan Keegan to pay at least $2,138,805 in damages and prejudgment interest to Claimants. The award was $1,825,517 in capital losses and at least $313,288 in prejudgment interest. The panel found Morgan Keegan explicitly "liable for misrepresentations and omissions (common law fraud), breach of fiduciary duty, unsuitable investments, negligence, failure to supervise, breach of contract, and vicarious liability" related to Claimants' investments in the RMK Select High Income Fund (MKHIX), RMK Strategic Income Fund (RSF), and RMK Multi-Sector High Income Fund (RHY). Dr. McCann testified on behalf of the Claimants.

Mercer v Morgan Keegan - $444,978 (RSF, RMA, RHY) Award

In November 2010, a FINRA arbitration panel in Orlando, FL ordered Morgan Keegan to pay $444,978 in damages plus attorneys' fees and costs to be determined. The award was made after a hearing wherein the Claimants alleged Respondents breached contractual and fiduciary duties and committed securities fraud. The panel found Morgan Keegan liable for "breach of fiduciary duty; unsuitability and failure to supervise." The claims related to Claimants' investments in the RMK Strategic Income Fund (RSF), RMK Advantage Income Fund (RMA) and RMK Multi-Sector High Income Fund (RHY). Dr. McCann testified on behalf of the Claimants.

Garrett et al v Morgan Keegan - $9.2 Million (RMH, RSF, RMA, RHY)

In October 2010, a FINRA arbitration panel in Houston, TX ordered Morgan Keegan to pay $9.2 Million in damages including $1.1 Million in attorneys' fees and $78,000 in costs. The award was made after a hearing wherein the Claimants alleged Respondents breached contractual and fiduciary duties, failed to suitably invest Claimants' accounts, and failed to supervise Claimants' accounts. "Claimants alleged that the suit arises out of a fraudulent scheme that induced Claimants to invest substantial retirement and trust funds into high risky closed-end mutual funds, managed by Morgan Keegan, that purchased illiquid mortgage-backed loans and collateralized debt obligations." The panel found Morgan Keegan liable. The claims related to Claimants' investments in the RMK High Income Fund (RMH), RMK Strategic Income Fund (RSF), RMK Advantage Income Fund (RMA) and RMK Multi-Sector High Income Fund (RHY). Dr. McCann testified on behalf of the Claimants.

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