We served as lead counsel for Morgan Keegan and related entities in federal securities, ERISA and derivative multi-district litigation related to investment company losses in the wake of the credit crisis. This litigation involved a number of large class actions, including a consolidated class action for the open-end funds, a consolidated class action for the closed-end funds, and an ERISA class action. The plaintiffs allegations sought well in excess of $1 billion in damages. After years of litigation, we successfully settled all of these cases. In re Regions Morgan Keegan Open-End Mutual Fund Litigation, No. 2:07-cv-2784-SHM-dkv; Landers v. Morgan Asset Management, Inc., No. 2:08-cv-02260-SHM-dvk; In re Regions Morgan Keegan Closed-End Fund Litigation, No. 2:07-cv-2830-SHM-dkv; In re Regions Morgan Keegan ERISA Litigation, No. 2:08-cv-02192-SHM-dkv; In re RMK Securities, Derivative and ERISA Litigation (MDL), Civil Action No. 2:09-md-02009.
Morgan Keegan (formerly NYSE: MOR) was a national broker-dealer institution. In April 2012, Morgan Keegan & Co. was acquired by Raymond James Financial.