Morgan Keegan Slammed by Horace Grant

Regions Morgan Keegan lost its biggest arbitration award to date related to its mutual funds which imploded during the subprime crisis. Former NBA ballplayer Horace Grant won an almost $1.5 million arbitration award against Morgan Keegan & Co. for losses in the bond mutual funds. The Los Angeles based Finra panel awarded Mr. Grant almost all of his losses in the case. It was a very impressive victory considering how difficult it is to win arbitrations on behalf of athletes or celebrities. Regions Morgan Keegan faces hundreds of arbitration claims filed by investors (including some represented by our firm) who allege that the funds were fraudulently marketed as conservative. After winning the first few rounds of cases, investors’ attorneys have started to routinely defeat the bank.