BOCA RATON, Fla., June 12, 2008 (LAWFUEL) — The Securities Law
Firm of Klayman & Toskes, P.A. (http://www.nasd-law.com) announced
today that it filed another arbitration claim against Morgan Keegan and
Regions Financial Corp. (NYSE:RF) with the Financial Industry
Regulatory Authority’s (“FINRA”) Office of Dispute Resolution. The
lawsuit seeks damages of about $700,000 in two closed end funds: RMK
Advantage Income Fund (NYSE:RMA) and RMK Multi-Sector High Income Fund
(NYSE:RHY). The Claimant lost money in these Funds due to Morgan
Keegan’s false and misleading statements about the Funds’ risk
tolerance and asset allocation, as well as the lack of diversification.
Further, the Claim alleges that Morgan Keegan violated Rule 10b-5 of
the Securities Exchange Act of 1934, as well as the applicable state
securities act, as a result of the firm’s misrepresentations and
omissions in connection with its sale of the securities to the
Claimant.
Klayman & Toskes continues to file numerous arbitration claims on
behalf of aggrieved investors of the Regions Morgan Keegan Bond Funds
from across the country. The arbitration claims involve losses in the
following Morgan Keegan Bond Funds:
Ticker Bond Fund Y-T-D Return as of 12/31/07
—— ——— —————————
RMH RMK High Income Fund -65.53%
RHY RMK Multi-Sector High Income Fund -65.09%
RMA RMK Advantage Income Fund -66.68%
RSF RMK Strategic Income Fund -66.92%
RHICX Regions MK Select High Income-C -59.95%
MKHIX Regions MK Select High Income-A -59.74%
RHIIX Regions MK Select High Income-I -59.64%
RIBCX Regions MK Select Intermediate Bond Fund-C -50.54%
MKIBX Regions MK Select Intermediate Bond Fund-A -50.30%
RIBIX Regions MK Select Intermediate Bond Fund-I -50.07%
Klayman & Toskes reminds investors of the benefits of filing an
individual arbitration claim, as opposed to participating in a class
action lawsuit. By participating in a class action lawsuit, an investor
will most likely recover only pennies on the dollar. However, if one
has experienced losses of $50,000 or more in the Morgan Keegan Bond
Funds, it may be more beneficial for them to file an individual
securities arbitration claim. In 2003, Klayman & Toskes conducted a
study of securities arbitration versus class action. The study
concluded that investors who file a securities arbitration claim may
obtain an overall higher rate of recovery as opposed to participating
in a class action lawsuit. To view the full results of the comparison,
please visit our web-site:
http://www.nasd-law.com/documents/classvr.pdf.
If you lost $50,000 or more in the Morgan Keegan Bond Funds, please
contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of
Klayman & Toskes, P.A., at 888-997-9956, to explore your legal options.
You may also visit us on the web at http://www.nasd-law.com.
Klayman & Toskes, an experienced and nationally recognized securities
litigation law firm, continues its representation of investors
throughout the world in securities arbitration and litigation matters
against major Wall Street brokerage firms.
