UNIONDALE, N.Y., May 16 /PRNewswire/ -- Mark & Associates, P.C. (http://www.youhaverights.com/) and Burke, Harvey & Frankowski, LLC announce that they have filed an arbitration request with the Financial Industry Regulation Authority "FINRA" (FINRA Dispute Number 08-01562) on behalf of a client of Morgan Keegan who lost in excess of $104,000 after investing in two Morgan Keegan Bond Funds, Morgan Keegan Multi-Sector High Income Fund and Morgan Keegan Select Intermediate Bond Fund (RIBCX). The arbitration request's Statement of Claim alleges that Morgan Keegan violated financial rules and regulations, state and federal securities laws and Florida common law, by making materially false and misleading statements and distributing untrue information about the risks of these funds to regulators and investors. Morgan Keegan & Company, Inc. is a subsidiary of Regions Financial Corp . For more information on this case please visit http://www.morgankeeganattorney.com/.
The firms believe that Morgan Keegan and Regions Financial failed to disclose important information in the funds' registration statements, and in prospectuses about the funds' investments in speculative collateralized debt obligations (CDOs). Investors in these funds were unaware that they were being exposed to the volatile subprime mortgage market through the funds' heavy concentration of investments in CDOs. Several of the funds have lost more than 50 percent of their value as the subprime crisis escalated last year.
Mark & Associates, P.C. and Burke, Harvey & Frankowski, LLC are filing individual claims on behalf of affected shareholders. An individual claim is unlike a class action claim in that the remedies sought with individual claims are based upon the specific merit and facts of a particular loss. Class action claims are brought by one or more representatives on behalf of a group of class members who have similar claims.
Investors can get more information by visiting http://www.morgankeeganattorney.com/ or http://www.youhaverights.com/corporate-fraud/morgan-keegan-mutual-funds . Investors can request a free legal consultation by completing the submission form on these websites or by calling 1-866-50-RIGHTS (1-866-507-4448).
About Mark & Associates, P.C.
Mark & Associates, P.C. is a leading consumer law firm with offices in Boston, Massachusetts and Long Island, New York. The firm aggressively represents victims of securities and investment fraud, insurance bad faith, defective products, dangerous pharmaceuticals and medical devices and serious accidents. More information on Mark & Associates, P.C. is available at http://www.youhaverights.com/.
About Burke, Harvey & Frankowski, LLC
Burke, Harvey & Frankowski, LLC was founded in 2007 with the idea of creating a new law firm committed to the representation of consumers and workers. The core philosophy and goal of the firm is to provide service to those who do not have a voice and need strong, courageous representation. The firm is located in Birmingham, Alabama. More information on Burke, Harvey & Frankowski, LLC is available at http://www.bhflegal.com/.
