Morgan Keegan Targeted In Subprime Suit

Law360, New York (December 13, 2007, 12:00 AM EST) -- A Tennessee asset management company has become the latest firm to be stung by the subprime mortgage crisis, after a group of investors filed a lawsuit against the company alleging breach of fiduciary duty relating to two mutual funds.

In a suit filed last week in the U.S. District Court for the Western District of Tennessee, investors accused Morgan Keegan Asset Management Inc. of misrepresenting the risk involved with the Regions Morgan Keegan Select Intermediate Bond Fund and the Select High Income Fund.

The complaint, seeking...
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