Walker Friedman and Christian Tucker have obtained a seven-figure arbitration award on behalf of an investor in a Morgan Keegan bond fund that, although originally touted as a safe, conservative investment, contained undisclosed and toxic levels of mortgage-backed securities.
A majority of a FINRA arbitration panel agreed that the investor, Lawrence Dale, was entitled to recover the losses sustained on his $16 million bond-fund investment because of Morgan Keegan’s misrepresentations.