Morgan Keegan funds to be distributed in Mississippi

JACKSON — Secretary of State Delbert Hosemann says about 1,600 Mississippians have until June 16 to file claims for what they are owed by Morgan Keegan.

A.B. Data Ltd. is distributing money from settlements with Morgan Keegan & Co. and Morgan Asset Management to investors in Mississippi, Alabama, Kentucky, South Carolina and Tennessee.

The settlements resulted from an investigation of seven bond funds sold by Morgan Keegan to more than 30,000 investors. The firms were charged with sales violations and overvaluing the funds that lost approximately $1.5 billion in value between March 31, 2007, and March 31, 2008.

Hosemann tells the Sun Herald (http://bit.ly/KfwxXO) that the secretary of state’s website has a claims form. He says the names of individuals were not published because of privacy concerns.

[RSS Feed] [del.icio.us]



To sign up for Mississippi Business Daily Updates, click here.

POST A COMMENT

 

FOLLOW THE MBJ ON TWITTER

Top Posts & Pages