Some Investors have complained they were sold mutual funds by the securities firm of Morgan Keegan & Company, Inc. based on representations of safety which were unfounded. At this time such complaints are only allegations and no determination has been made that the firm and/or its representations engaged in any wrongdoing.
The funds in question include RMK High Income Fund (RMH), RMK Advantage Income Fund (RMA), and RMK Multi-Sector High Income Fund (RHY). Reportedly, these funds were heavily invested into collateralized debt obligations (CDO’s) based on sub-prime mortgages and have therefore declined sharply in value.
Morgan Keegan is a Memphis, Tenessee based brokerage firm and is a division of Regions Financial Group. The firm’s offices are located primarily in the South, including in the states of Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee and Virginia.
Persons who believe they were sold the above listed mutual funds, or other investments, based of false information or misrepresentations concering the safety of such investments can contact the law firm of Shepherd Smith & Edwards. Our law firm represents investors who have lost money as a result of worngdoing by members of the securities industry, including Morgan Keegan. Contact us today to arrange a free confidential consultation via telephone to discuss your situation with one of our experienced attorneys.
Additional information is available to you here regarding Morgan Keegan & Company and Regions Financial Group.