INDIANAPOLIS, June 13, 2008 (PRIME NEWSWIRE) -- The collapse of Morgan Keegan bond mutual funds has led to investor claims and a continuing investigation of Regions Financial Corporation (NYSE:RF), according to a four-law firm legal team with nationally recognized securities law experience (www.subprimelosses.com).
"We are investigating the links between depositors of Regions Bank who had CDs and savings accounts, who were referred to Morgan Keegan for investments in their bond funds," said attorney Mark E. Maddox of Maddox Hargett & Caruso, P.C. "Unfortunately, the Regions Bank employees were as much in the dark about the risks of these bond funds as their customers."
Investors in numerous Morgan Keegan bond mutual funds have experienced losses in net asset value of more than 50 percent since the beginning of 2007, with large losses sustained by many. News reports have indicated that mortgage-backed securities and CDOs may constitute significant portions of Morgan Keegan bond fund portfolios that lost money. "We are investigating how culpable Regions Bank may have been in referring unsuspecting, risk averse bank savers into these funds. The following Morgan Keegan Funds have been adversely impacted by the collapse of the mortgage markets and subprime crisis:
-- Regions Morgan Keegan Select High Income-A, (Sym: MKHIX) -- Regions Morgan Keegan Select High Income-C, (Sym: RHICX) -- Regions Morgan Keegan Select High Income-I, (Sym: RHIIX) -- RMK High Income Fund, (NYSE:RMH) -- RMK Strategic Income Fund, (NYSE:RSF) -- Regions Morgan Keegan Select Intermediate Bond Fund-A, (Sym: MKIBX) -- Regions Morgan Keegan Select Intermediate Bond Fund-C, (Sym: RIBCX) -- Regions Morgan Keegan Select Intermediate Bond Fund-I, (Sym: RIBIX) -- RMK Multi-Sector High Income, (Sym: RHY) -- RMK Advantage Income, (Sym: RMA)
More information is available at www.subprimelosses.com or by contacting an attorney.