WKU Public Radio News Staff
Sat June 9, 2012
Deadline for Bond Fund Claims Approaches
The Department of Financial Institutions in Kentucky says the deadline to file a claim to participate in the Morgan Keegan Bond Fund Claims Process is June 16th. Potentially eligible claimants had lost money in proprietary bond funds from Morgan Keegan that were investgated by the Department and securities regulators from four other states.
Individuals who suffered losses through the investments may be entitled to receive a portion of the settlement fund.
Eligible claimants were notified in February and received a Notice and Proof of Claim form from the fund's administrator.
About 30,000 investors across the country purchased one or more of the proprietary bond funds from the company. The Department of Financial Institutions says the funds lost approximately $1.5 billion in value from March of 2007 to March of 2008.
More information can be obtained at www.morgankeegansettlement.com