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The Securities Arbitration Law Firm of KlaymanToskes, representing numerous aggrieved investors throughout the nation, advises all Morgan Keegan customers who invested $1 million or more in the RMK Closed-End Bond Funds and who are eligible to participate in the settlement of the In Re Regions Morgan Keegan Closed-End Fund Litigation (“Class Action”), Case No. 07-cv-02830, that they should explore all of their legal options, including filing a securities arbitration claim against Morgan Keegan as opposed to remaining in the Class. Despite the fact that losses in the RMK Closed-End Bond Funds totaled over $1.22 billion, Morgan Keegan and other defendants will pay just $62 million to resolve the Class Action. If the requested attorneys’ fees and costs are granted, the recovery to investors will be reduced to roughly $43 million. The settlement is awaiting court approval.
KlaymanToskes continues to represent investors who lost money in the RMK Bond Funds in securities arbitration claims before the Financial Industry Regulatory Authority (“FINRA”). KlaymanToskes reminds investors of the benefits of filing an individual securities arbitration claim, as opposed to participating in a class action lawsuit. By participating in a class action, an investor may only recover a nominal amount. However, if one has experienced significant losses, it may be more beneficial for them to file an individual securities arbitration claim. In 2003, KlaymanToskes conducted a detailed study of securities arbitration versus class action. The study concluded that investors who file a securities arbitration claim traditionally obtain an overall higher rate of recovery as opposed to participating in a class action lawsuit. To view the full results of the comparison, please visit our web-site: https://klaymantoskes.com/documents/classvr.pdf
The RMK Closed-End Bond Funds included the RMK Advantage Income Fund n/k/a Helios Advantage Income Fund (NYSE: HAV), RMK High Income Fund n/k/a Helios High Income Fund (NYSE: HIH), RMK Multi-Sector High Income Fund n/k/a Helios Multi-Sector High Income Fund (NYSE: HMH) and RMK Strategic Income Fund n/k/a Helios Strategic Income Fund (NYSE: HSA).
Current and former customers of Morgan Keegan who invested $1,000,000 or more in the RMK Bond Funds and sustained significant losses are encouraged to contact KlaymanToskes to explore their legal rights and options.