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Tag Archives: investments

A.B. Data to distribute $200M to Morgan Keegan investors

JACKSON — The U.S. Securities & Exchange Commission and regulators from Tennessee, Alabama, Kentucky, Mississippi and South Carolina have appointed A.B. Data, Ltd. of Milwaukee, Wis., to distribute $200 million to investors from the regulators’ settlements with Morgan Keegan & Company and Morgan Asset Management. The settlements resulted from an investigation of seven proprietary bond funds sold by Morgan Keegan ...

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Ex-NFL player pleads guilty to business scam

JACKSON — A former National Football League player and Mississippi businessman has admitted to using investors’ money for a planned resort area in China and to buy himself a luxury van, a boat and other items. The Clarion-Ledger reports 48-year-old Jeffrey L. Walker, formerly of Madison, pleaded guilty yesterday in U.S. District Court to wire fraud and tax evasion. Last ...

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Sanderson registers with SEC, but does not plan to offer shares

LAUREL — Sanderson Farms Inc. has filed a Form S-3 shelf Registration Statement with the Securities and Exchange Commission (SEC) to register for possible future sale shares of the company’s common and/or preferred stock at an aggregate offering price not to exceed $1 billion. The stock may be offered by the poultry company in amounts, at prices and on terms ...

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Molpus Woodlands buys timberland in two states

JACKSON — The Molpus Woodlands Group, LLC, on behalf of an unnamed client, has successfully purchased approximately 26,500 acres of timberland located in Georgia and Virginia. The timberland, located in Liberty and Long Counties in Georgia, and Greensville, Sussex and Southhampton Counties in Virginia, consists mainly of southern pine timberland. Molpus currently manages approximately 22,000 acres in Georgia and Virginia. ...

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State begins proceedings against Morgan Keegan staffers

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 & ...

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Report: State tops for oil and gas investments

JACKSON — Mississippi has been named the top site for oil and gas investment in the world by Canadian researchers, according to the Governor’s Office. The Global Petroleum Survey 2011 by the Fraser Institute gave Mississippi high marks for several features, including business and regulatory environments. The ranking recognized the state’s success in developing new energy projects including KiOR Inc. ...

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TARP pressure behind Regions putting Morgan Keegan up for sale

You can toss out public relations as a reason Regions Financial, parent of Regions Bank, wants to get rid of wayward brokerage and investment banking subsidiary Morgan Keegan. It comes down to money – specifically the $3.5 billion the Birmingham-based Regions still owes the U.S. Treasury’s Troubled Asset Relief program, analysts say. J.P. Morgan analyst Vivek Juneja, in guidance issued ...

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Regions to 'explore strategic alternatives' for Morgan Keegan

MEMPHIS — Regions Financial Corp. says it will “explore strategic alternatives” for its brokerage and investment banking subsidiary, Morgan Keegan & Company, Inc., and its asset management subsidiary, Morgan Asset Management, after reaching a $200-million settlement with the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and five states, including Mississippi. With these regulatory matters settled and ...

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States reach $200M settlement with Morgan Keegan

Five states, including Mississippi, and federal regulators have reached a $200-million settlement with Morgan Keegan & Co. over allegations that its brokerage firm engaged in reckless business practices that led to an estimated $1.5 billion in losses to investors. William Hicks of the U.S. Securities and Exchange Commission announced the deal today. State regulators from Alabama, Kentucky, Mississippi, South Carolina ...

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SEC decides to compensate Stanford fraud victims

WASHINGTON — The Security and Exchange Commission (SEC) has decided to compensate Stanford Group Company (SGC) victims, stating that people who invested money through SGC are entitled to protection by the Securities Investor Protection Corporation (SIPC). The SEC said it would formally ask SIPC to institute a claims process, according to Sen. Roger Wicker (R-Miss.) “Many in Mississippi lost their ...

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