A FINRA arbitration panel has shot down a $2.2 million claim made by investors attempting to recover losses from bond funds sold by Morgan Keegan & Co., in a decision poised to spark further litigation.

The case involves a group of 22 investors, who first brought the claim to FINRA in December 2009, alleging breach of fiduciary duty, misrepresentations, statutory fraud, common law fraud and violations of the Texas Security Act, a FINRA ruling dated March 9 shows.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access