Morgan Keegan Lawsuit

Morgan Keegan Lawsuit Filed

A lawsuit has recently been filed against Regions Morgan Keegan that alleges that the defendants did not disclose or misrepresented certain material facts regarding Funds to their investors. The Funds currently in question are the Select High Income Fund ("RHIIX") and the Select Intermediate Bond Fund ("MKIBX"). The Morgan Keegan lawsuit was filed on behalf of investors who acquired shares of either fund between December 6, 2004, and October 3, 2007.

The loss of value in these certain Morgan Keegan investment funds has had a noticeable impact on the people who invested in these funds. In most cases, the media highlights individuals that have lost hundreds of thousands of dollars in a stock crisis. However, there are even more people, who did not have a lot of money in the funds, but lost more than they could afford to.

Many investors have lost money when certain Morgan Keegan funds dropped dramatically in value. Even though some people may have only lost what some consider small amounts of money, that was money they worked hard for and will now have to attempt to recover. What's more, many investors are saying that they were told that the funds were safe and they are accusing Morgan Keegan of providing misleading information with regard to those funds.

Regardless of how much or how little money investors lost in Morgan Keegan funds, investors placed their money in these funds in good faith. Investors have a right to reclaim those funds if they believe they were misled regarding the safety and stability of the funds.

If you were invested in Morgan Keegan funds, it may be possible to regain some of your losses by filing a Regions Morgan Keegan lawsuit through securities fraud attorneys.

Fannie Mae Investor Lawsuit

Fannie Mae Investor Lawsuit

Only a day after the mortgage finance giant was seized by the U.S. government, a shareholder filed a class action lawsuit in the Southern District Court of New York against four of the  former top executives of Fannie Mae.  The Fannie Mae investor lawsuit allegs the former top executives issued both materially false and misleading statements regarding its business and investment prospects, as well as misrepresented its financial statements.

According to the lawsuit, the complaint alleges that certain Fannie Mae’s officers and/or directors committed violations of the Securities Exchange Act of 1934. The plaintiff charges that between November 16th, 2007 and September 5th, 2008, the defendants made both materially false and misleading regarding Fannie Mae’s business and prospects, as well as misrepresented the Company’s financial statements. These false and misleading statements caused Fannie Mae stock to trade at artificially inflated prices between November 16th, 2007 and September 5th, 2008, reaching as high as $40.69 per share. 

Allegedly on July 7th, 2008, a financial analyst at Lehman Brothers published a report that suggested Fannie Mae may need to raise as much as $46 billion in capital, which caused it's stock to plummet 16% in a single day. Immediately after that disclosure, a former St. Louis Federal Reserve Board President, William Poole, came forward with his opinion that Fannie Mae was nearly insolvent and The New York Times had disclosed that the government was making plans to place the company into a conservatorship.  The plaintiff alleged that from July 7th through July 14th, 2008, Fannie Mae’s stock price declined over 48%. 

According to the lawsuit “because of their positions within the company and their access to material non-public information available to them but not to the public, the individual defendants knew that the adverse facts specified herein had not been disclosed to and were being concealed from the public and that the positive representations being made were then materially false and misleading”.

If you were invested in Fannie Mae, it may be possible to regain some of your losses by filing a Fannie Mae investor lawsuit, through a securities fraud attorney.