{"id":653,"date":"2010-02-23T23:37:37","date_gmt":"2010-02-23T23:37:37","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2010\/02\/morgan_keegan_ordered_by_finra_1"},"modified":"2022-03-09T15:59:54","modified_gmt":"2022-03-09T21:59:54","slug":"morgan-keegan-ordered-by-finra-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/morgan-keegan-ordered-by-finra-1\/","title":{"rendered":"Morgan Keegan Ordered by FINRA Panel to Pay Investor $2.5 Million for Bond Fund Losses"},"content":{"rendered":"

\t\t\t\tA Financial Industry Regulatory Authority panel has ordered Morgan Keegan & Co. to pay investor Andrew Stein $2.5 million because the bond funds that he invested in had bet poorly on mortgage-related holdings. Panel members found Morgan Keegan liable for failure to supervise, negligence, and for selling investments that were unsuitable for Stein and his companies. The claimants, who sustained financial losses, had initially sought $12 million.<\/p>\n

Stein’s arbitration claim is just one of over 400 securities claims that have been filed against Morgan Keegan over its bond funds that had invested in subprime-related securities, such as CDO’s (collateralized debt obligations). When the US housing market collapsed, the funds went down in value by up to 82%.<\/p>\n

Stein contends that Morgan Keegan did not reveal the kinds of risks involved in investing in the bond funds. He and his companies claim that Morgan Keegan artificially increased the fund assets’ value so that the funds would appear more stable and investors wouldn’t be able to see the actual risks involved. <\/p>\n

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

A Financial Industry Regulatory Authority panel has ordered Morgan Keegan & Co. to pay investor Andrew Stein $2.5 million because the bond funds that he invested in had bet poorly on mortgage-related holdings. Panel members found Morgan Keegan liable for failure to supervise, negligence, and for selling investments that were unsuitable for Stein and his […]<\/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":[3798,3910,3752,3739,3858,3898,3741],"tags":[],"class_list":["post-653","post","type-post","status-publish","format-standard","hentry","category-arbitration","category-bond-funds","category-financial-firms","category-finra","category-morgan-keegan","category-regions-financial-corporation","category-securities-fraud"],"yoast_head":"\nMorgan Keegan Ordered by FINRA Panel to Pay Investor $2.5 Million for Bond Fund Losses — Investor Lawyers Blog — February 23, 2010<\/title>\n<meta name=\"description\" content=\"A Financial Industry Regulatory Authority panel has ordered Morgan Keegan & Co. to pay investor Andrew 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