JACKSON — The Mississippi Secretary of State’s Office today began its administrative proceeding against Brian B. Sullivan, Gary Stringer and Michelle Wood, employees of Morgan Keegan & Company and Morgan Asset Management.
These individuals are believed to have participated in providing Mississippi investors inaccurate information regarding the bond funds in which Mississippi investors lost millions of dollars.
Morgan Keegan & Company and Morgan Asset Management have settled their cases with the State of Mississippi and must cooperate fully with these proceedings. Sullivan, Stringer and Wood did not reach settlement agreements with the state.
They are being represented by Sutherland, Asbill & Brennan of Atlanta, Georgia and a local law firm, Watkins Ludlam.
Kentucky, South Carolina, and Alabama have similar hearings pending against these three individuals. Mississippi is the first state to hold an administrative hearing against Sullivan, Stringer and Wood.