CHICAGO, May 5, 2009 (GLOBE NEWSWIRE) -- The Law Offices of Howard Prossnitz (http://www.prossnitzlaw.com) announced that it has won an arbitration hearing in Richmond, Virginia on a non-disclosure Select Intermediate Bond case for a former Morgan Keegan customer. The customer was awarded all his money back, prejudgment interest and expert fees.
The Prossnitz law firm has filed other arbitration claims against Morgan Keegan & Company, Inc., with the Financial Industry Regulatory Authority's ("FINRA") Office of Dispute Resolution. The claims relate to losses in various Regions Morgan Keegan Bond Funds. Morgan Keegan Funds that may be subject to claims include Stock Symbol: RHY, RMA, RMH, RSF, MKHIX, MKIBX, RHICX, RHIIX, RIBCX, RIBIX.
Claimants alleged losses in the Morgan Keegan Funds caused by Morgan Keegan's false and misleading statements about the Fund's risk tolerance, asset allocation, lack of diversification, and lack of suitability for the claimants. The Claims also allege that Morgan Keegan violated Rule 10b-5 of the Securities Exchange Act of 1934, as well as applicable state securities laws.
The arbitration claims involve losses in some of the following Morgan Keegan Bond Funds:
RMH RMK High Income Fund RHY RMK Multi-Sector High Income Fund RMA RMK Advantage Income Fund RSF RMK Strategic Income Fund RHICX Regions MK Select High Income-C MKHIX Regions MK Select High Income-A RHIIX Regions MK Select High Income-I RIBCX Regions MK Select Intermediate Bond Fund-C MKIBX Regions MK Select Intermediate Bond Fund-A RIBIX Regions MK Select Intermediate Bond Fund-I
Specific information about the Morgan Keegan fund claims can be reviewed at http://www.prossnitzlaw.com.
The Law Offices of Howard Prossnitz urges investors to consider filing an individual arbitration claim versus participating in a class action lawsuit. Investors who participate in class actions often recover only a small fraction of their claim, whereas those pursuing an arbitration claim may recover substantially more. Further, unlike a class action, an arbitration claim allows you to: (1) choose your own lawyer; (2) present the unique facts of your case to an arbitration panel; (3) control the decision whether to settle your case and for how much; and (4) secure a result within approximately twelve months, as opposed to potentially years with a class action.
If you lost $50,000 or more in the Morgan Keegan Bond Funds, please contact Howard Prossnitz or Meghan McAllister at 312 960-1800 for a free consultation. You may visit the firm's web site at http://www.prossnitzlaw.com.
The Law Offices of Howard Prossnitz focuses on investor and consumer cases brought individually and as class actions.