FINRA Panel Orders Morgan Keegan To Pay $1.4M To Investor

Law360, New York (December 19, 2012, 6:10 PM EST) -- Morgan Keegan & Co. Inc. was ordered to pay $1.4 million in damages and fees to a Texas investor for losses associated with bonds the brokerage allegedly misrepresented, according to a ruling from a Financial Industry Regulatory Authority arbitration panel issued Monday.

The investor, Lawrence B. Dale, sued the company in October 2010, alleging that he and a family trust he owns purchased over $16 million worth of shares in a fund and suffered losses as a result, despite being told by Morgan Keegan the fund...
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