{"id":3672,"date":"2016-05-28T00:00:00","date_gmt":"2016-05-28T05:00:00","guid":{"rendered":"https:\/\/stockbrokerfraudblog.blawgcloud.com\/2016\/05\/texas_appeals_courts_upholds_2"},"modified":"2022-03-23T10:32:03","modified_gmt":"2022-03-23T15:32:03","slug":"texas-appeals-courts-upholds-2","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/texas-appeals-courts-upholds-2\/","title":{"rendered":"Texas Appeals Courts Upholds $2.1M Mortgage-Backed Securities Ruling Against Morgan Keegan"},"content":{"rendered":"

The Texas Court of Appeals for the Fifth District has upheld a $2.1M judgment for a client of Houston Securities Fraud Attorney Sam Edwards <\/a>of Shepherd Smith Edwards & Kantas<\/a>. The ruling ordered Morgan Keegan to pay $2.1M for not telling investors about the actual risks involved in a mortgage-backed securities stake.<\/p>\n

It was in October 2014 that a Dallas state court judge determined that the wealth management and capital markets firm had violated the Texas Securities Act by not accurately representing the risks involved in securities in which Purdue Avenue Investors LP and its principals Dana and Robert Howard had invested. These were MBS purchased by bond funds that Morgan Keegan underwrote and Morgan Asset Management managed. The purportedly undisclosed risk was that the funds were heavily involved in lower than investment grade structured finance.<\/p>\n

The Howards invested more than $2M in the RMK Strategic Income Fund and the RMK Advantage Income Fund. The funds would go on to lose more than $2B.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Texas Court of Appeals for the Fifth District has upheld a $2.1M judgment for a client of Houston Securities Fraud Attorney Sam Edwards of Shepherd Smith Edwards & Kantas. The ruling ordered Morgan Keegan to pay $2.1M for not telling investors about the actual risks involved in a mortgage-backed securities stake. It was in […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3858,3753,3750],"tags":[],"class_list":["post-3672","post","type-post","status-publish","format-standard","hentry","category-morgan-keegan","category-mortgage-backed-securities","category-texas-securities-fraud"],"yoast_head":"\nTexas Appeals Courts Upholds $2.1M Mortgage-Backed Securities Ruling Against Morgan Keegan — Investor Lawyers Blog — May 28, 2016<\/title>\n<meta name=\"description\" content=\"The Texas Court of Appeals for the Fifth District has upheld a $2.1M judgment for a client of Houston Securities Fraud Attorney Sam Edwards of Shepherd — May 28, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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