NEW YORK, Dec. 18, 2007 (PRIME NEWSWIRE) -- The Law Firm of Klayman & Toskes, P.A. ("K&T") (http://www.nasd-law.com) announced today that investors who purchased the below-listed Morgan Keegan Bond Funds during the period of December 6, 2004 through October 3, 2007 have until February 4, 2008 to move the Court to be appointed Lead Plaintiff of the class action lawsuit that was filed against Morgan Keegan and other related parties in the United States District Court Western District of Tennessee, captioned Atkinson, M.D. et al. v. Morgan Asset Management, Inc. et al., Case No. 2007cv02784:
Ticker Bond Fund Y-T-D Return as of 11/23/07 ------ --------- --------------------------- RHIIX Regions MK Select High Income-I -54.35% MKIBX Regions MK Select Intermediate Bond Fund-A -42.73%
These bond funds sustained heavy losses due to the fact that they were over-concentrated in risky collateralized debt obligations ("CDOs") and other mortgage backed securities. Morgan Keegan may have mis-represented these bond funds to be safe, conservative investments. However, they may have been unsuitable for many Morgan Keegan customers in light of the funds' level of exposure to the CDO and mortgage backed securities markets which have plummeted in recent months.
If you are an investor in these Morgan Keegan Bond Funds and wish to apply for lead plaintiff status of the class action, please contact Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956, to explore your legal options or to find out how you may recover some of your investment losses. You may also visit us on the web at http://www.nasd-law.com. No class has yet been certified in this action. Until a class is certified, you are not personally represented by counsel unless you retain an attorney.
K&T continues its representation of investors throughout the world in securities arbitration and litigation matters, against major Wall Street brokerage firms for securities violations including fraud, misuse of margin, failure to supervise, unsuitability, misrepresentation and omission of material fact.