Since our firms were retained to represent investors who lost life savings in the Morgan Keegan bond funds, we have heard many personal stories. Most of these investors turned to Morgan Keegan with their life-savings and retirement funding. The investors relied on and trusted Morgan Keegan’s representations that the bond funds were safe investments when in fact the Morgan Keegan Funds were heavily invested in the riskiest, low-priority tranches of structured finance deals, backed by risky assets. Each of these investors lost most of their investments; some lost everything.
The following are some of their stories (identifying details changed):
If you experienced losses from your investment in the Morgan Keegan Bond Funds and have questions about the ongoing litigation, or if you have questions, we would be pleased to hear from you. Please contact us.
“My family lost $40,000. Is there any hope of recovery?” Jeremy R.
“I feel like I’ve had my pockets picked. I would have done better putting my money in a savings account that earns 1% interest.” Theodore W.
“I lost 90% of my investment in their funds.” Sally G.
“I invested $45,495 and the current value is $4,772. It took me a long time to save that money. It took Morgan Keegan a short time to lose it. Can you help me recover?” Jason Z.
“In 2007 I lost my job. I was advised that I would have to move my 401(k) from a bank that was doing a good job with my investment. I had banked with Regions for a long time, so I met with a Morgan Keegan financial adviser in one of Regions Bank local offices. I transferred $140,000, my retirement money, to be invested in Morgan Keegan funds. The financial adviser who invested my money left shortly after that. I was assigned to a new adviser, whom I was never able to speak with. I have no investment experience and told them that I did not want to be in high risk because of my age. After they lost the major portion of my retirement funds, the assistant told me that my money had all been invested in a high risk fund. I am bitter and feel as though I have been taken advantage of.” Sally C.
“I am a Trust of Officer for an account that owned RMK funds. We are definitively interested in information about a Class-Action lawsuit.” Betty G.
“I purchased shares in an Intermediate Bond Fund, supposedly a relatively safe investment, and lost over $120,000.” Carmen A.