updated 2/15/2011 8:15:55 PM ET 2011-02-16T01:15:55

NEW YORK, Feb. 15, 2011 (GLOBE NEWSWIRE) -- The Law Office of Christopher J. Gray, P.C. in New York City ( newcases@investorlawyers.net ) informs investors of a $350,000 FINRA arbitration award against the brokerage unit of Regions Financial (NYSE:RF). On February 10, 2011, a Financial Industry Regulatory Authority (FINRA) arbitration panel in Nashville, Tennessee awarded damages of $283,708.00, attorney's fees of $70,927.00 and costs of $18,500 against Regions Financial Corp.'s brokerage unit, Morgan Keegan & Company, Inc. and in favor of the claimant. The case is Edward Karrels v. Morgan Keegan & Company Inc., FINRA Case No. 08-03266. The fund that was the subject of the customer's arbitration claim was the Regions Morgan Keegan Select Intermediate Fund, which claimant alleged was unsuitable because of the fund's undisclosed risks associated with loss of principal.

Law Office of Christopher J. Gray, P.C. is investigating possible arbitration claims on behalf of 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       

Attorney Christopher Gray is available for a confidential no-obligation consultation for investors who believe that they may have a valid claim arising out of Regions Morgan Keegan mutual funds or other structured financial products. The Law Office of Christopher J. Gray, P.C. has represented investors in numerous arbitration proceedings before the FINRA (Financial Industry Regulatory Authority), its predecessors the National Association of Securities Dealers (NASD) and New York Stock Exchange Regulation, Inc., and the National Futures Association, as well as in litigation before the state and federal courts. The Firm's contact information is below.

CONTACT: Law Office of Christopher J. Gray, P.C.
         460 Park Avenue, 21st Floor
         New York, New York 10022
         (212) 838-3221
         (212) 937-3139 (fax)

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