SEC Fights Costs Award In Morgan Keegan ARS Suit

Law360, New York (July 18, 2011, 4:40 PM EDT) -- The U.S. Securities and Exchange Commission on Monday looked to avoid covering Morgan Keegan & Co. Inc.'s litigation costs in its dismissed Georgia suit alleging the firm misled investors about the risks of auction rate securities.

The SEC asked the Georgia federal court to amend a judgment issued by the clerk of the court pursuant to U.S. District Judge William S. Duffey Jr.'s June 28 opinion tossing the suit, saying that while the judge's order made no mention of costs being borne by either party, the...
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