A recent news release published on the Class Action Newsline reports Regions Morgan Keegan has suffered another defeat at the hands of a FINRA arbitration panel in Boca Raton, Fla., which awarded $431,000 to plaintiff Philip Richardson for his losses in RMK investment funds. This is the latest in a string of judgments against Regions Financial Corp.’s Memphis-based Morgan Keegan unit. Lawsuits filed on behalf of investors allege the RMK investment funds were misrepresented as low-risk high-yield funds, when in fact they were tied to the volatile mortgage lending industry. When the industry went bust, investors lost up to 80 ... Read More
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