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The Law Firm of Shepherd Smith Edwards & Kantas LLP Continues to File Claims Against Morgan Keegan in Light of FINRA Order to Pay Investors $267,711 Plus Interest for Losses in RMK Bond Funds

MEMPHIS, Tenn., April 9, 2009 (GLOBE NEWSWIRE) -- Separate Financial Industry Regulatory Authority www.FINRA.org)"> arbitration panels have issued awards to investors who suffered financial losses in Regions Morgan Keegan mutual funds. Last week, a FINRA panel awarded two California residents $267,711 plus interest for their losses -- the largest bond fund arbitration award that Morgan Keegan has been ordered to pay to date. Regions Morgan Keegan is a division of Regions Financial Corp .

In two arbitration cases last month, investors were also awarded six-figure sums, with one award amount larger than the damages claimed by investors. To date, FINRA panels have awarded over $871,000 to investors for their Morgan Keegan-related claims.

All of the arbitration claims accuse Morgan Keegan of concealing the actual risks associated with their bond funds. The investors have accused Morgan Keegan of selling certain funds as relatively conservative investments when they were actually exposed to a number of high risk debt instruments, including collateral debt obligations and subprime mortgage securities. They say Morgan Keegan engaged in a scheme to defraud investors of certain bond funds and misrepresented the extent of their holdings in riskier investments.

Morgan Keegan investors sustained substantial financial losses after the subprime mortgage market declined. RMK funds named in the allegations against Morgan Keegan, include:

 RMK Select Intermediate Bond Fund
 RMK Strategic Income Fund
 RMK Advantage Income Fund
 RMK High Income Fund
 RMK Select High Income Fund
 RMK Multi-Sector High Income Fund

Stockbroker fraud law firm Shepherd Smith Edwards and Kantas LLP is investigating claims by investors who say they sustained financial losses with Morgan Keegan. The attorneys at Shepherd Smith Edwards & Kantas LLP continue to file cases for investors nationwide.

Shepherd Smith Edwards & Kantas LLP has a team of attorneys, consultants and others with more than 100 years of combined experience in the securities industry and in securities law. Since 1990, we have represented thousands of investors nationwide to recover losses. We have represented clients in Federal and state courts and in arbitration through the Financial Industry Regulatory Authority (FINRA), the New York Stock Exchange Inc. (NYSE), the American Arbitration Association (AAA) and in private arbitration actions. Collectively, we have represented clients in more than 1,000 matters in negotiation, mediation, arbitration and litigation.

CONTACT:  Shepherd Smith Edwards & Kantas LLP 
          Samuel Edwards 
          800-259-9010
          sedwards@sseklaw.com