Defendant Name: Morgan Keegan & Company, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Regions Financial Corporation
SIC Code: 6021
CUSIP: 7591EP10

Initial Case Details

Legal Case Name SEC v. Morgan Keegan & Company, Inc.
First Document Date 21-Jul-2009
Initial Filing Format Civil Proceeding
Case Number 09-cv-01965
Allegation Type Broker Dealer
Federal District Court Georgia, Northern District of Georgia

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
• Sec 15(c)
Securities Act
• Sec 17(a)(1)
• Sec 17(a)(2)
• Sec 17(a)(3)
• Sec 17(a) (Not specified)

Resolutions

First Resolution Date 15-Feb-2013
Headline Total Penalty and Disgorgement $110,500

Related Documents:

comp21143 21-Jul-2009 Complaint
Complaint
The SEC stated: "Beginning in late 2007, Morgan Keegan misled thousands of its customers regarding the fundamental nature and increasing risks associated with auction rate securities that Morgan Keegan underwrote, marketed, and sold."
LR-21143 21-Jul-2009 Litigation Release
SEC Charges Morgan Keegan & Company, Inc. with Fraudulent Marketing and Sales of Auction Rate Securities
The SEC stated that: "[I]t has filed a complaint in the U.S. District Court for the Northern District of Georgia against Morgan Keegan & Company, Inc. ("Morgan Keegan"), a Tennessee-based broker-dealer, for misleading investors regarding the liquidity risks associated with auction rate securities ("ARS") that the firm underwrote, marketed, or sold."
2009-166 21-Jul-2009 Press Release--Civil Action
SEC Charges Morgan Keegan for Fraudulent Marketing and Sales of Auction Rate Securities
The SEC stated that: "[It] charged Tennessee-based broker-dealer Morgan Keegan & Company, Inc. for misleading thousands of investors about the liquidity risks associated with auction rate securities (ARS), and the agency is seeking a court order requiring Morgan Keegan to repurchase the illiquid ARS from its customers."
court_doc118_09-cv-01965 15-Feb-2013 Court Docket Document
Judgment
The Court stated: "[I]t is Ordered and Adjudged that Morgan Keegan shall pay a civil monetary penalty in the amount of $110,500 and that Keegan offer to repurchase any remaining ARS and ARPS it sold to, and that are still held by, Tillis, Ali, Wells, Ellis, Withers, Kipp, Landy , Farmer, Kartalis, Gaskin, Doega, Hubbell, Jennings, Koenig, Alter, Cook, and Jones."