Illiquidity of Auction-Rate Securities

After weeks of claiming that auction rate securities markets were only suffering from a liquidity problem and that investors' principal was safe, UBS finally admitted on March 28, 2008 that investors' principal is dramatically at risk. Specifically, customers who were unable to sell their auction rate securities because of failed auctions had been told that the securities retained full value. That has proved to be false. UBS has announced its decision to mark down the value of those auction rate securities held in customer accounts by as much as 20%. If your broker at UBS, Lehman Brothers, Morgan Stanley, Goldman Sachs, Merrill Lynch, Citigroup, Raymond James, Morgan Keegan, or any other brokerage firm sold you auction-rate securities, including auction-rate preferred securities and auction-rate closed-end funds, you may have a valid claim to gain access to your illiquid investments and recovery of any losses. Brokers often represented auction rate securities to be safe, liquid investments. But the failure of recent auctions has eliminated the liquidity of many of these securities, making it very difficult or impossible for investors to sell the securities and gain access to their money. If you are stuck in your auction rate securities please contact a lawyer at the law firm of Fleming & Associates,L.L.P. for a free case evaluation.  

Regions Morgan Keegan Bond Mutual Fund Losses

Regions Morgan Keegan Bond Mutual Fund Losses Investors in the following Regions Morgan Keegan bond mutual funds may be entitled to recover their investment losses: Regions MK Select Intermediate Bond Fund (RIBCX, MKIBX, and RIBIX) , the Regions MK Select High Income Fund (RHICX, MKHIX, and RHIIX), the RMK Multi-Sector High Income Fund (RHY), the RMK High Income Fund (RMH), and the RMK Strategic Income Fund (RSF). These funds may have been over-concentrated in subprime mortgage-backed securities, causing investors to lose millions of dollars. (See Wall Street Journal article at and Reuters article) . If you invested in the above Regions Morgan Keegan mutual funds please contact a lawyer at the law firm of Fleming & Associates, L.L.P. for a free evaluation of any claims that you may have.