BURKE, HARVEY & FRANKOWSKI HITS MORGAN KEEGAN WITH $1.1 Million Award
The law firms of Burke, Harvey & Frankowski and Sonn & Erez recently won an arbitration against Morgan Keegan for the sale of the firm's proprietary RMK funds. The arbitration panel ordered Morgan Keegan to pay $1.1 million to the claimants. The panel found that the brokerage firm failed to disclose the true nature of the funds and misrepresented the funds to the investors. This case is the first case in which the Securities and Exchange Commission's Wells notice was admitted into evidence. This award marks the second time in less than a week that a FINRA panel has ruled against Morgan Keegan. On Friday, February 19, an arbitration panel awarded $2.5 million to an investor in a case involving the same RMK funds. Burke, Harvey & Frankowski currently represents over 350 clients in claims against Morgan Keegan..
To read the full article, click HERE.