The Memphis Commercial Appeal reported Wednesday on Morgan Keegan's mixed run in court this May. Morgan Keegan won eight FINRA arbitration cases regarding the Regions Morgan Keegan Select Funds and lost six.

113 cases in total have been initiated against Morgan Keegan, and 74 of them were dropped. 39 cases were decided by arbitration panels and no damages were assigned in 21 of these cases. The remaining 18 cases that appeared before arbitration panels were assigned a total of $3.3 million in awards.

Investors alleged that Morgan Keegan recommended funds without adequate information about risk and recommended riskier funds to investors who were not ideal candidates for such investments.

Morgan Keegan inked a deal with Pioneer Investment Management early this year to merge 11 RMK Select Funds holding $2 billion in assets with Pioneer funds. (See The MFWire, 1/22/09) Atlanta-based James Dunlap & Associates filed claims with FINRA last fall. (See The MFWire , 10/07/08)  

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