January 22, 2015
Regions Financial Corp. agreed to pay $125 million to end both a putative class action and shareholder derivative suit alleging it mismanaged three open-end mutual funds that tanked in 2007, according to a Tennessee federal court filing on Thursday.
December 19, 2013
Regions Financial Corp. agreed to a $22.5 million class action settlement in consolidated litigation accusing Regions of keeping its stock as an employee retirement plan option even though the company's risky loan practices made it an imprudent investment, according to a Tennessee federal court filing Wednesday.
October 15, 2012
Morgan Keegan & Co. Inc. on Friday agreed in Tennessee federal court to pay $68 million to resolve a shareholder derivative action and a shareholder class action accusing the company of misleading investors about its mutual funds' risky holdings in asset-backed securities.
September 12, 2011
A Tennessee federal judge on Friday tossed a shareholder derivative suit against Morgan Asset Management Inc. and managers of four of its mutual funds that claimed they misled investors over the funds' content and performance.