Regions Financing (RF)

Regions Financial Corp.’s brokerage arm Morgan Keegan & Co. said a lawsuit filed by former client Consulting Services Group LLC is “full of omissions, misstatements and half truths” and is nothing more than a tactic to turn attention away from its own shortcomings.
CSG, a Tennessee-based investment advisory firm for institutions, foundations, pension funds and high-net worth individuals, filed a civil lawsuit last week in Shelby County, TN Circuit Court against Morgan Keegan over losses in Morgan Keegan’s former RMK Funds. Losses in the funds ranged from 51% to 86% last year just before Morgan Keegan sold the funds to a third party. The total value had dropped from a high of $4.4 billion to around $350 million when they were jettisoned.

Jan 1 · 4:01:00 PM · Source: MSN Money
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by Michael Oliveto