Welcome to the Regions Morgan Keegan
Closed-End Fund Litigation Website
Update:
On February 3, 2017, a re-distribution of the remaining funds in the Net Settlement Fund took place.
The Regions Morgan Keegan Closed-End Fund Litigation is a lawsuit alleging that Defendants misled investors about the types of assets and the true value of the assets in which RHM, RSF, RMA, and RHY (the “Closed-End Funds”) invested. In this action, the Court appointed Lion Fund, L.P., Dr. J. Samir Sulieman, and Larry Lattimore to serve as "Lead Plaintiffs" and C. Fred Daniels, in his capacity as Court-appointed Trustee Ad Litem for the Leroy McAbee, Sr. Family Foundation Trust, and appointed Labaton Sucharow LLP to represent the putative class.
The Court in charge of this case has approved the Settlement. Payments will be made after the completion of claims processing and after any appeals are resolved. Please be patient. The Settlement has created a $62 million cash settlement fund for the benefit of eligible investors.
Please be advised that your rights may be affected if you purchased or otherwise acquired the publicly traded shares of the below four RMK Closed-End Funds from their respective initial offering dates through July 14, 2009, inclusive.
- RMK High Income Fund, Inc. (“RMH”)
- RMK Strategic Income Fund, Inc. (“RSF”)
- RMK Advantage Income Fund, Inc. (“RMA”)
- RMK Multi-Sector High Income Fund, Inc. (“RHY”)
Please be sure to read the Notice to fully understand your rights.