Wednesday, August 5, 2009

Morgan Keegan Appeals Arbitration Decisions

Morgan Keegan, a regional brokerage owned by Birmingham-based Regions Financial Corp. (RF), has faced a flood of claims by investors who were hit by sizable losses in 2007 and 2008 in seven funds that made bets in debt and other mortgage-related holdings.

Morgan Keegan has filed motions to vacate a number of the arbitration awards against it, although such awards are typically very difficult to vacate on appeal.

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