6th Circ. Backs Dismissal Of Morgan Keegan Fraud Action

Law360, New York (September 8, 2011, 6:10 PM EDT) -- The Sixth Circuit on Thursday upheld the dismissal of a fraud class action brought against Morgan Keegan and Co. Inc., ruling the Securities Litigation Uniform Standards Act bars investors' claims over mutual funds that tanked in the 2007 credit crunch.

U.S. District Judge Samuel H. Mays of the Western District of Tennessee correctly dismissed state law claims of fraud, negligence and breach of contract in the proposed class action by investors including plaintiff Richard A. Atkinson, over bond funds and a high income fund offered by...
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