ATLANTA, Nov. 5, 2009 (GLOBE NEWSWIRE) -- On November 3, 2009, a Financial Industry Regulatory Authority (FINRA) 100% of the claim amount sought in damages and assessed costs against Regions Financial Corp.'s (RF) brokerage unit, Morgan Keegan & Company, Inc. The case is The Benward Family Trust DTD 1/17/2000 v. Morgan Keegan & Company Inc., FINRA Case No. 09-01320. The funds found subject to the award were the Morgan Keegan's Select High Income Fund (MKHIX), now the Helios Select High Income Fund (HIFAX) and the Regions Morgan Keegan Multi-Sector High Income Fund (RHY), now the Helios Multi-Sector High Income Fund (HMH).
Firm principal Jim Dunlap commented on the award saying, "The panel awarded 100% of our claim. The panel also assessed 100% of costs against Morgan Keegan so we're very pleased." Morgan Keegan was represented by Sutherland law firm, of Atlanta, Georgia.
James A. Dunlap Jr. & Associates LLC and affiliated attorneys have filed arbitration claims on behalf of other investors in the Regions Morgan Keegan Bond Funds. The arbitration claims involve losses in the Morgan Keegan High-Yield Funds which have recently changed names as follows:
Formerly RMK High Income Fund -- RMH/Now Helios High Income Fund -- HIH Formerly RMK Multi-Sector High Income Fund -- RHY/Now Helios Multi- Sector High Income Fund -- HMH Formerly RMK Advantage Income Fund -- RMA/Now Helios Advantage Income Fund -- HAV Formerly RMK Strategic Income Fund --- RSF/Now Helios Strategic Income Fund -- HSA Formerly Regions MK Select High Income-C -- RHICX Formerly Regions MK Select High Income-A -- MKHIX/Now Helios Select High Income Fund -- HIFAX Formerly RHIIX -- Regions MK Select High Income-I Formerly RIBCX -- Regions MK Select Intermediate Bond Fund-C Formerly Regions MK Select Intermediate Bond Fund -- MKIBX/Now Helios Select Intermediate Income Fund -- HSIBX Formerly RIBIX Regions MK Select Intermediate Bond Fund-I
Specific information about the Morgan Keegan fund claims can be reviewed at http://www.jamesdunlaplaw.com/cms.php?id=36.
If you lost $100,000 or more in the Morgan Keegan Bond Funds, please contact James A. Dunlap Jr., Esquire, of James A. Dunlap Jr. & Associates LLC at 404-354-2363, for a free consultation. You may visit the firm's web site at http://www.jamesdunlaplaw.com.