$350,000 Arbitration Award Issued Against Regions Financial in Case Alleging Unsuitability of Regions Morgan Keegan Mutual Funds
February 15 2011 - 7:56PM
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)
newcases@investorlawyers.net
www.investorlawyers.net
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