updated 2/9/2011 7:47:43 PM ET 2011-02-10T00:47:43

ATLANTA, Feb. 9, 2011 (GLOBE NEWSWIRE) -- On February 2, 2011, a Financial Industry Regulatory Authority (FINRA) arbitration panel awarded damages and assessed costs against Regions Financial Corp.'s (RF) brokerage unit, Morgan Keegan & Company, Inc. The case is Liles v. Morgan Keegan & Company Inc., FINRA Case No. 09-04638. The fund found subject to the award was the RMK Multi-Sector High Income Fund (RHY), now the Helios Multi-Sector High Income Fund (HMH).

Firm principal Jim Dunlap commented on the award saying, "Significantly, the panel admitted the Multi-State Task Force Notice of Intent to Revoke and Exhibits into evidence and ordered Morgan Keegan Director of Investments Gary Stringer and RMK Fund Compliance Officer Michele Wood to testify in the case--all over the objections of Morgan Keegan. The panel awarded substantial damages plus litigation costs, expert witness fees, and assessed all forum fees to Morgan Keegan. My client was very pleased with the result." Morgan Keegan was represented by Samuel Felker and J.D Thomas of Bass Berry & Sims LLP of Nashville, Tennessee.

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 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 money in the Morgan Keegan Bond Funds, please contact 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 .

CONTACT: Jim Dunlap, Principal
         James A. Dunlap Jr. & Associates LLC
         801 W Conway Drive NW
         Atlanta, Georgia 30327
         Phone: 404-354-2363
         Fax: 404-745-0195

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com