5,837 Alabamians getting Morgan Keegan settlement - WAFB 9 News Baton Rouge, Louisiana News, Weather, Sports

5,837 Alabamians getting Morgan Keegan settlement

More than 5,800 Alabama investors in Morgan Keegan & Co. will soon find checks in their mailboxes totaling $14 million.

Alabama Securities Commission Director Joe Borg said the checks are the result of a recent settlement with Morgan Keegan that stemmed from a multi-state investigation. The investigation involved seven mutual bond funds created by Morgan Keegan and sold by its agents. The seven funds lost about $1.5 billion in 2007 and 2008.

Borg said the reimbursement fund administrator, A.B. Data Ltd., starting mailing checks Monday from the States' Fund set up by the settlement. The checks are going to 5,837 Alabama investors who filed an approved claim.

Borg said the Securities and Exchange Commission will distribute other settlement funds later.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Local/State NewsMore>>

  • Tigers with Purpose use yoga to spread message

    Tigers with Purpose use yoga to spread message

    Saturday, February 24 2018 11:18 PM EST2018-02-25 04:18:58 GMT
    LSU Tigers with Purpose use yoga to spread their message (Source: WAFB)LSU Tigers with Purpose use yoga to spread their message (Source: WAFB)
    LSU Tigers with Purpose use yoga to spread their message (Source: WAFB)LSU Tigers with Purpose use yoga to spread their message (Source: WAFB)
    Some LSU students are finding their inner purpose through yoga. “It’s something that you just have to be passionate about,” said Meagan Morvant, member of Tigers with Purpose and the Public Relations Student Society of America (PRSSA). More specifically, these students are Tigers with Purpose. “People don’t’ realize, one that pediatric cancer is different from adult cancer. Adult cancer can’t cure pediatric cancers or treat pediatric cancer...More >>
    Some LSU students are finding their inner purpose through yoga. “It’s something that you just have to be passionate about,” said Meagan Morvant, member of Tigers with Purpose and the Public Relations Student Society of America (PRSSA). More specifically, these students are Tigers with Purpose. “People don’t’ realize, one that pediatric cancer is different from adult cancer. Adult cancer can’t cure pediatric cancers or treat pediatric cancer...More >>
  • Arrest made in fatal double shooting that left 1 dead, 1 critical

    Arrest made in fatal double shooting that left 1 dead, 1 critical

    Two people were shot Sunday night, leaving one dead, investigators said. The victim who died was identified as Tr'markus Taylor, 20, of Baton Rouge.

    More >>

    Two people were shot Sunday night, leaving one dead, investigators said. The victim who died was identified as Tr'markus Taylor, 20, of Baton Rouge.

    More >>
  • Louisiana Republicans elect first new leader in 14 years

    Louisiana Republicans elect first new leader in 14 years

    Saturday, February 24 2018 3:23 PM EST2018-02-24 20:23:12 GMT
    Louis Gurvich (Source: louisgervich.com)Louis Gurvich (Source: louisgervich.com)

    Louisiana Republicans have chosen their new chairman, a New Orleans businessman who will lead the party as it readies for a heated effort aimed at unseating Democratic Gov. John Bel Edwards in 2019.

    More >>

    Louisiana Republicans have chosen their new chairman, a New Orleans businessman who will lead the party as it readies for a heated effort aimed at unseating Democratic Gov. John Bel Edwards in 2019.

    More >>
Powered by Frankly