Morgan Keegan Loses Another RMK Bond Fund Case

A Financial Industry Regulatory Authority (FINRA) arbitration panel in Dallas awarded the Claimant $207,994 in compensatory damages against Morgan Keegan & Company, Incorporated. The case revolved around the recommendation and sale of RMK bond funds by Morgan Keegan. The Claimant asserted various causes of action, including breach of fiduciary duty, misrepresentations, omissions, negligence and failure to supervise among others.

After having heard the evidence, the arbitration panel found that Morgan Keegan was liable to the Claimant for $207,994 in compensatory damages. The forum fees $12,600 for the arbitration were split equally between the Claimant and Morgan Keegan. (FINRA# 09-04549; The Roger & Rosemary Enrico Foundation v. Morgan Keegan & Company, Inc. et al)

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