latest news releases from the newsroom
Sonn & Erez PLC
Regions Financial Corp.'s Morgan Keegan Hit With Fraud Charges by Regulators, Says Sonn & Erez, PLC -- RF
FORT LAUDERDALE, Fla., April 7, 2010 (GLOBE NEWSWIRE) -- Region Financial Corp.'s (NYSE:RF) Morgan Keegan & Company was hit with fraud charges today by state regulators, the SEC, and as well as the Financial Industry Regulatory Authority (FINRA) relating to the sale of proprietary Regions Morgan Keegan (RMK) Bond Funds, says Sonn & Erez PLC, a law firm representing many Morgan Keegan bond fund investors. State regulators from Alabama, Mississippi, Kentucky and South Carolina charged that Morgan Keegan, its sister company Morgan Asset Management, and certain employees violated the states' securities' laws by making misrepresentations and failing to disclose the true risks of the RMK bond funds to investors. At the same time, the SEC charged that Morgan Keegan and Morgan Asset Management violated federal securities laws by misvaluing and misrepresenting the true value of the holdings of six RMK bond funds to investors during 2007. Moreover, FINRA, the financial industry's self-regulatory organization, charged that Morgan Keegan and others violated FINRA regulations. Jeffrey Sonn, Esq., an attorney for many Morgan Keegan investors, said, "These charges by state and federal regulators show what we have been saying all along in our cases for investors, that Morgan Keegan misled their clients that their RMK funds were safe bond funds when in fact they were dangerous funds that heavily invested in toxic waste assets." Sonn & Erez PLC has prevailed in several arbitration cases for investors, including a $1.1 million verdict last month in Alabama.
Rosetta Resources Inc.
Rosetta Resources Inc. to Present at OGIS New York
HOUSTON, April 7, 2010 (GLOBE NEWSWIRE) -- Rosetta Resources Inc. (Nasdaq:ROSE) ("Rosetta" or the "Company") announced today that Randy L. Limbacher, chairman, chief executive officer and president, will present at the IPAA's Oil & Gas Investment Symposium New York (OGIS New York) on Monday, April 12, 2010 at 8:45 a.m. Eastern Time, 7:45 a.m. Central Time.
MISTRAS Group, Inc.
Mistras Achieves Strong Revenue Growth and Increased Profitability in Third Quarter of Fiscal 2010
PRINCETON JUNCTION, N.J., April 7, 2010 (GLOBE NEWSWIRE) -- Mistras Group, Inc. (NYSE:MG) today reported financial results for the third quarter of fiscal 2010, which ended February 28, 2010. Third quarter revenues were $64.4 million, a 37% increase from the third quarter of fiscal 2009. Revenues for the first three quarters of Fiscal 2010 were $192 million, 26% more than the same period in fiscal 2009. Adjusted EBITDA* for the quarter was $6.5 million as compared to $4.1 million for the third quarter of fiscal 2009, an increase of 59%. For the first nine months in fiscal 2010, adjusted EBITDA* was $25.8 million as compared to $23.0 million in the same period in fiscal 2009. Net income attributable to Mistras Group, Inc. for the quarter was $0.8 million as compared to a net loss of ($0.8) million during the third quarter of fiscal 2009. For the first nine months, net income attributable to Mistras Group, Inc. for 2010 was $5.2 million, compared to $4.0 million for 2009. Fully diluted earnings per share for the quarter and year-to-date was $0.03 and $0.21, respectively, versus a loss per share of ($0.04) and ($0.42) for the comparable periods of fiscal 2009.
Law Offices of Howard B. Prossnitz
Prossnitz Law Firm Wins Award Involving Predecessors of Helios Income Funds -- Files More Cases on Funds Now Known as HAV, HIH, HMH, HSA, HIFAX, HSIBX
CHICAGO, April 7, 2010 (GLOBE NEWSWIRE) -- The Law Offices of Howard B. Prossnitz, P.C., (http://www.prossnitzlaw.com) announced that it recently recovered $57,582.48 in a FINRA arbitration for an investor in three Morgan Keegan income funds now known as the Helios High Income Fund (HIH), the Helios Advantage Income Fund (HAV), and the Helios Strategic Income Fund (HSA).