BOCA RATON, Fla., Oct. 17, 2012 (GLOBE NEWSWIRE) -- The Securities Arbitration Law Firm of Klayman & Toskes ("K&T") (http://www.nasd-law.com), representing numerous aggrieved investors throughout the nation, advises all Morgan Keegan customers who invested $1 million or more in the RMK Closed-End Bond Funds and who are eligible to participate in the settlement of the In Re Regions Morgan Keegan Closed-End Fund Litigation ("Class Action"), Case No. 07-cv-02830, that they should explore all of their legal options, including filing a securities arbitration claim against Morgan Keegan as opposed to remaining in the Class. Despite the fact that losses in the RMK Closed-End Bond Funds totaled over $1.22 billion, Morgan Keegan and other defendants will pay just $62 million to resolve the Class Action. If the requested attorneys' fees and costs are granted, the recovery to investors will be reduced to roughly $43 million. The settlement is awaiting court approval.
K&T continues to represent investors who lost money in the RMK Bond Funds in securities arbitration claims before the Financial Industry Regulatory Authority ("FINRA"). K&T reminds investors of the benefits of filing an individual securities arbitration claim, as opposed to participating in a class action lawsuit. By participating in a class action, an investor may only recover a nominal amount. However, if one has experienced significant losses, it may be more beneficial for them to file an individual securities arbitration claim. In 2003, K&T conducted a detailed study of securities arbitration versus class action. The study concluded that investors who file a securities arbitration claim traditionally obtain an overall higher rate of recovery as opposed to participating in a class action lawsuit. To view the full results of the comparison, please visit our web-site: http://www.nasd-law.com/documents/classvr.pdf
The RMK Closed-End Bond Funds included the RMK Advantage Income Fund n/k/a Helios Advantage Income Fund (NYSE:HAV), RMK High Income Fund n/k/a Helios High Income Fund (NYSE:HIH), RMK Multi-Sector High Income Fund n/k/a Helios Multi-Sector High Income Fund (NYSE:HMH) and RMK Strategic Income Fund n/k/a Helios Strategic Income Fund (NYSE:HSA).
Current and former customers of Morgan Keegan who invested $1,000,000 or more in the RMK Bond Funds and sustained significant losses are encouraged to contact K&T to explore their legal rights and options. The attorneys at K&T are dedicated to pursuing claims on behalf of investors who have suffered investment losses. K&T, an experienced, qualified and nationally recognized securities litigation law firm, practices exclusively in the field of securities arbitration and litigation.
If you wish to discuss this announcement or invested $1,000,000 or more in the RMK Bond Funds, please contact Steven D. Toskes or Jahan K. Manasseh of Klayman & Toskes, at 888-997-9956, or visit us on the web at http://www.nasd-law.com
CONTACT: Klayman & Toskes 888-997-9956Source:Klayman & Toskes P.A.