James A. Dunlap Jr. & Associates LLC Announces Regions Financial Corp.'s Unit Morgan Keegan Hit With Award for Sale of "Toxic Waste" Mutual Fund -- MKHIX, HIFAX

On September 28, 2009, a Financial Industry Regulatory Authority (FINRA) arbitration panel awarded $25,000 (100% of the claim amount) in damages and assessed forum fees against Regions Financial Corp.'s (RF) brokerage unit, Morgan Keegan & Company, Inc. The case is Barnhill v. Morgan Keegan & Company, Inc., FINRA Case No. 09-00578. The fund found subject to the award was the Morgan Keegan's Select High Income Fund (MKHIX), now the Helios Select High Income Fund (HIFAX).

Firm principal Jim Dunlap commented on the award saying, "The panel awarded 100% of our claim so we're very pleased." Morgan Keegan was represented by Bass, Berry & Sims PLC, of Memphis, Tennessee.

Firm principal Jim Dunlap added, "I encourage anyone who has sustained a loss in any of the Morgan Keegan high-yield bond funds not only to contact their attorney to begin recovery proceedings, but to make a written complaint to FINRA, the SEC, and their state securities regulator about the harm caused by these horrible funds sold by Morgan Keegan. All attorneys representing claimants against Morgan Keegan need to include a Tennessee Consumer Protection Act claim which provides a negligence standard of recovery and allows recovery of attorney's fees and costs to claimant's inside and outside Tennessee."

James A. Dunlap Jr. & Associates LLC and affiliated attorneys have filed arbitration claims on behalf of other investors in the Regions Morgan Keegan Bond Funds. The arbitration claims involve losses in the Morgan Keegan High-Yield Funds which have recently changed names as follows:

 Formerly RMK High Income Fund -- RMH/Now Helios High Income Fund --
 HIH
 Formerly RMK Multi-Sector High Income Fund -- RHY/Now Helios Multi --
 Sector High Income Fund -- HMH
 Formerly RMK Advantage Income Fund -- RMA/Now Helios Advantage Income
 Fund -- HAV
 Formerly RMK Strategic Income Fund -- RSF/Now Helios Strategic Income
 Fund -- HSA
 Formerly Regions MK Select High Income-C -- RHICX
 Formerly Regions MK Select High Income-A -- MKHIX/Now Helios Select
 High Income Fund -- HIFAX
 Formerly RHIIX -- Regions MK Select High Income-I
 Formerly RIBCX -- Regions MK Select Intermediate Bond Fund-C
 Formerly Regions MK Select Intermediate Bond Fund -- MKIBX/Now Helios
 Select Intermediate Income Fund -- HSIBX
 Formerly RIBIX Regions MK Select Intermediate Bond Fund-I

Specific information about the Morgan Keegan fund claims can be reviewed at http://www.jamesdunlaplaw.com/cms.php?id=36.

If you lost $100,000 or more in the Morgan Keegan Bond Funds, please contact James A. Dunlap Jr., Esquire, of James A. Dunlap Jr. & Associates LLC at 404-354-2363, for a free consultation. You may visit the firm's web site at http://www.jamesdunlaplaw.com.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: James A. Dunlap Jr. & Associates LLC

CONTACT:  James A. Dunlap Jr. & Associates LLC
Jim Dunlap, Principal
404-354-2363
Fax: 404-745-0195
jim@jamesdunlaplaw.com
801 W Conway Drive NW
Atlanta, Georgia 30327

Related terms: bond, consumer, tennessee, toxic, web, yield