Defendant Name: Morgan Keegan & Company, Inc.

Defendant Type: Subsidiary of Public Company

Document Reference: court_doc118_09-cv-01965

Document Details

Legal Case Name SEC v. Morgan Keegan & Company, Inc.
Document Name Judgment
Document Date 15-Feb-2013
Document Format Civil Proceeding
Case Number 09-cv-01965
Federal District Court Georgia, Northern District of Georgia
Federal District Judge William S. Duffey, Jr.
Allegation Type Broker Dealer
Document Summary 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."

Disgorgement & Penalty Information

Resolutions
Required repurchase of auction rate securities
Monetary Penalties:

Civil Penalty

Individual:     $110,500.00 Shared:    

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."