Bond mutual fund investors hit by the credit crunch are increasingly turning to the legal system for recourse. Today's WSJ Fund Track column
takes a look at the latest such case, a complaint against Morgan Keegan that alleges misrepresentation in selling a bond mutual fund. In the complaint an Indiana-based charity claims that it invested $220,000 in the Regions Morgan Keegan Select Intermediate Bond Fund,thinking it was a relatively safe invesment. The fund lost nearly half its value this year. State Street has had seen similar lawsuits related to losses in its bond funds.
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