Our firm is representing a number of investors who have claims against Regions Morgan Keegan (RMK). These claims involve six bond funds that have lost almost 70% of their total value since the funds’ inception. Many of our clients were assured that these bond funds were safe, low-risk investments – comparable to money market accounts and/or CDs. Unfortunately, these funds were actually extremely high risk investments that were filled with mortgage back securities and considered by many as “junk.” Based on RMK’s advice, many investors placed a large portion of their retirement savings in these accounts. In many cases, RMK brokers placed all of an investor’s life savings in these funds.
Some of the tougher tragedies we have seen in these cases are from individuals in their 70s and 80s who have lost most of the savings they worked all their lives to build. In some instances, these investors are facing the very real possibility that they may have to go back into the workforce to support themselves. Some individuals are simply not physically able to go back to work and are understandably worried about what will happen in their future
Presently, we have several cases filed in arbitration and are continuing to investigate many more. If you or one of your clients has suffered losses in the RMK bond funds we will be glad to share the information we have learned. It is our hope that this litigation will be able to allow many of our clients, especially those of retirement age, to enjoy their retirement years instead of worrying about how to live through them. Roman Shaul is the contact lawyer on these cases for the firm. You can contact him at 800-898-2034 or by email at Roman.Shaul@beasleyallen.com.
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