Settlement checks coming, but Hosemann ‘disappointed’ in SEC
by MBJ Staff
Published: November 2,2012
ACROSS MISSISSIPPI — The state securities regulators from Alabama, Kentucky, Mississippi, South Carolina and Tennessee are notifying investors entitled to reimbursement from the recent Morgan Keegan settlement that their states’ fund distribution checks will be mailed Nov. 5.
A.B. Data, Ltd., as the fund administrator, will be mailing checks to all investors who filed an approved eligible claim within the claim filing period.
“Mississippi was a leader in the initial investigation, and we are pleased to see our efforts come to fruition. The Secretary of State’s Office was able to return more than $5 million to Mississippi investors,” said Secretary of State Delbert Hosemann.
The settlement funds were not allocated by state, but rather, by investors who filed eligible claims. The Secretary of State’s Office made numerous attempts via electronic mail, United States mail and telephone to encourage Mississippi investors to file a claim to the states’ fund. As part of the settlement agreement, the Securities and Exchange Commission (SEC) will distribute additional settlement funds in the future.
“As pleased as we are to have recouped this large amount of settlement funds for Mississippians from the states’ fund, we are equally disappointed the SEC has yet to begin the distribution of the other half of the settlement funds to investors,” Hosemann said.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Oxford’s FNC getting new headquarters
- Judge intends to rule on McDaniel's challenge before general election
- QUIRKY? NO, JERKY — Whatever your craving, Beef Jerky Outlets likely has the flavor among 200+ choices
- Officials set hunting dates for birds; expands dove season by 20 days
- (UPDATE) I-20 partially closed as vehicle carrying hazardous materials burns
- Coast family wins $644K in tideland lawsuit against state
- State’s MAGIC accounting system works, albeit with glitches
- Corps official: River needs larger ports, locks and dams
- C Spire, UM installing Wi-Fi network at Vaught-Hemingway Stadium