Horace Grant, most well-known for his time with the Chicago Bulls, won a $1.46 million arbitration award against Morgan Keegan & Co. for losses in bond mutual funds. The award, announced last Friday, represents nearly all of the unrealized losses Grant suffered as of January 2008.Grant had alleged that Morgan Keegan, a Memphis, Tenn.-based broker, sold him four high-yield bond funds with more risk in them than he was told.
Posts Tagged ‘High Yield Bond’
NBA Star Grant Prevails in Morgan Keegan Case
September 24th, 2009 
Before You Invest 
Posted in Finance Fraud 
Tags: Arbitration Award, Arbitration Claims, Bear Market, Brokerage Firm, Chicago Bulls, Conservative Investments, Financial Industry Regulatory Authority, Fixed Income Products, High Yield Bond, High Yield Bond Funds, Horace Grant, Meltdown, Memphis Tenn, Morgan Keegan, Nba Star, Regions Financial, Regions Financial Corp, Residential Mortgages, Risky Debt, Unrealized Losses 
No Comments »Oppenheimer Champion Income Fund — Wrong-Way Bets
January 28th, 2009 Before You Invest Oppenheimer’s Champion Income Fund sank 78.5 percent last year from incorrect-way bets tied to commercial mortgages, making it the worst performing taxable high-yield bond fund. Angelo Manioudakis, a portfolio manager who oversaw $16 billion in fixed-income assets, resigned on Dec. 12. Two investors filed complaints yesterday with the Financial Industry Regulatory Authority claiming the company misrepresented the fund’s risk.
Posted in Finance Fraud Tags: Airline Company, Annapolis Maryland, Commercial Mortgages, Employee Compensation, Financial Industry Regulatory Authority, Fixed Income, Fund Group, High Yield Bond, High Yield Bond Fund, Money Management Firm, Municipal Bond Fund, Municipal Bonds, Oppenheimer Fund, Oppenheimerfunds, Portfolio Manager, S College, Terror Attacks, Tobacco Companies, Wagers, Wrong Way No Comments »
