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.
Top Posts & Pages
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- Half century of memories — Christmas on Deer Creek to celebrate 50th anniversary
- Analyst: KiOR Columbus plant may end up sold as scrap
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Ex-MDEQ leader Fisher joins Butler Snow
- Gulf oil rig explosion kills one worker, injures three
- Can Metrocenter rise from the ashes? Again
- Prescott leads field for Conerly Trophy as state's best football player
- Bryant wants free tuition for students with technical diploma
- Former MDEQ Executive Director Trudy Fisher joins Butler Snow