Smiley Bishop & Porter LLP

Securities Arbitration & Business Litigation Attorneys

(800) 697-4514
Menu
  • The Firm
    • Firm Overview
    • Attorney Profiles
    • Who We Serve
  • Practice Areas
    • Arbitration Against Stockbrokers
    • Securities
    • Auction Rate Securities Lawyers
  • Cases & Investigations
    • Winning Cases
    • Current Investigations
  • News
    • Firm News
    • SBP In The Press
  • Investor Resources
    • Articles
    • Investment Products
    • Churning Calculator
    • Books for Investors
    • Notable Quotes
    • Helpful Links
  • Blog
  • Payment
    • Pay Invoice
    • Pay Retainer
  • Contact Us

East Tennessee Neurology P.C. Profit Sharing Plan v. Morgan Keegan & Company, Inc.

March 9, 2011 by lmitchum

Profit sharing plan recovery for losses on RMK Bond Funds (FINRA, 2010)

Brian Smiley and Mike Bishop, along with co-counsel, represented the pension plan for a medical practice. The plan’s losses arose from investments solicited in three Regions Morgan Keegan Bond Funds (RMK High Income, RMK Strategic Income, and RMK Multi-Sector Funds). These funds took incredible risks with shareholders’ money by owning low level tranches of mortgage and asset-backed securities and collateralized debt obligations. Morgan Keegan defended the case aggressively and even sought recovery of its attorneys’ fees. The arbitration panel ruled in favor of the claimant, specifically finding Morgan Keegan liable for fraud, breach of fiduciary duty, and violation of the Tennessee Consumer Protection Act. It awarded compensatory damages of $301,195, interest of $14,060, attorneys’ fees (including for discovery abuse) of $115,689, plus costs of $52,413.

Filed Under: Winning Cases Tagged With: FINRA Arbitration, Investment Fraud Attorney, Morgan Keegan, Securities Arbitration Attorney, Securities Fraud Lawyer, Securities Law Firm, Securities Lawyers, Stock Fraud Attorney

Cases & Investigations

  • » Home
  • » Winning Cases
  • » Current Investigations
There are two times in a man’s life when he should not speculate: when he can’t afford it, and when he can." —Mark Twain
Fill out my online form.

6075 Barfield Rd. | Suite 1150 | Atlanta, GA 30328 |(770) 829.3850 | Toll Free (800) 697.4514

Copyright© 2020, Smiley Bishop & Porter LLP. All Rights Reserved. Home | Disclaimer | Contact

Hosting by Packawhallop

SuperLawyers 2011