BOCA RATON, Fla., Jan. 28, 2008 (PRIME NEWSWIRE) -- The law firm of Vianale & Vianale LLP is representing shareholders who purchased the following Morgan Keegan securities:
RMK Strategic Income Fund Inc. (NYSE:RSF) RMK High Income Fund Inc. (NYSE:RMH) RMK Multi-Sector High Income Fund (NYSE:RHY)
These Morgan Keegan Funds were invested in collateralized debt obligations backed by sub-prime mortgages sold to higher-risk borrowers. The Funds concealed their exposure to the problems in the sub-prime mortgage market, which caused the Funds to trade at artificially high prices. In early July 2007, the Funds acknowledged serious problems in their individual portfolios related to their sub-prime market exposure. On November 7, 2007, Portfolio Manager James C. Kelsoe wrote to investors, acknowledging the full extent of the portfolios' problems due to the decline in the housing sector and the sub-prime mortgage crisis. The price of the Funds' shares thereafter collapsed.
If you purchased shares of these securities between December 6, 2004 and October 7, 2007, you may move the court (United States District Court for the Western District of Tennessee) no later than February 4, 2008 to appoint you as lead plaintiff, a representative party that acts on behalf of other class members. The court must determine whether the class member's claim is typical of other members' claims, and whether the class member will adequately represent the class. Your ability to recover is not, however, affected by the decision whether or not to serve as a lead plaintiff. Vianale & Vianale LLP is active in major litigations pending in federal and state courts. More about the firm is available on its website, www.vianalelaw.com.
If you wish to discuss this action with us, or have any questions concerning this notice, or your rights and interests with regard to this case, please contact:
Kenneth J. Vianale, Esq. Julie Prag Vianale, Esq. Vianale & Vianale LLP 2499 Glades Road, Suite 112 Boca Raton, FL 33431 888- 657-9960 (Toll Free) (561-392-4750) Email: kvianale@vianalelaw.com