FINRA Nixes $8M In Investor Claims Over Morgan Keegan Bonds

Law360, New York (September 13, 2012, 10:52 PM EDT) -- The Financial Industry Regulatory Authority on Thursday denied the claims of a group of investors that sought $7.6 million from Morgan Keegan & Co. Inc. over losses they sustained by investing in bad bond funds.

The majority of the panel agreed to deny the claims of the nine family trusts and individual retirement accounts, though the chairperson dissented in part. The plaintiffs had hit the brokerage with claims of fraud and negligent misrepresentation, breach of fiduciary duty, negligence, failure to supervise, and breach of contract, among...
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