SEC To Appeal Dismissal Of Morgan Keegan Suit

Law360, New York (August 29, 2011, 3:38 PM EDT) -- The U.S. Securities and Exchange Commission said Friday it would appeal the dismissal of its Georgia lawsuit against Morgan Keegan & Co. Inc. for allegedly misleading investors about the risks of auction rate securities.

The agency notified the federal court that it would ask the Eleventh Circuit to review U.S. District Judge William S. Duffey Jr.’s ruling in favor of Morgan Keegan — a decision he first made in June and amended on Aug. 5 to strike an award of litigation costs in favor of the...
To view the full article, register now.