Moberly, Missouri Bonds and Morgan Keegan & Co.
Have you lost money investing in the Moberly, Missouri bonds that were issued and underwritten by Morgan Keegan & Co. The Missouri Division of Investor Protection and Securities brought a regulatory action against Morgan Keegan & Co. related to the issuance of bonds for a sucralose factory in Moberly, Missouri.
The Missouri action alleges that Moberly, Missouri issues $39 million in bonds related to the construction of a sucralose factory. The factory was to be developed by a company called Mamtek International, Ltd. These bonds were sold to 140 purchases, many of which were in Missouri. Eventually these bonds defaulted, leaving investors with substantial losses. Missouri alleged that Morgan Keegan omitted material facts of the risks of this bond offering. To settle these claims, Morgan Keegan agreed to pay $850,000.
This isn’t the first time that Morgan Keegan has been the subject of a regulatory investigation alleging misrepresentations made in connection with bonds. In June 2011, Morgan Keegan paid $200 million to settle claims that it misrepresented risks of its proprietary bond funds to customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings and court in all 50 states, including Missouri. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James Financial Services, ProEquities, Securities America, National Securities Corp., and many others.
HAVE YOU LOST MONEY WITH MOBERLY, MISSOURI BONDS OR MORGAN, KEEGAN & CO.?
CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CASE EVALUATION
Denver Office: (720) 599-3505
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