K.C Chiefs Retiree gets $ back
Football/Mutual Fund newsbreak:
NFL Retiree Gets $950K for Losses in Morgan Keegan Funds
FINRA ruled in favor of an NFL retiree, Jerome Woods of the Kansas City Chiefs, who lost $1.7 million in Morgan Keegan mutual funds, but awarded him only $950,000. Woods is among dozens of investors who have filed lawsuits against the firm after losing 90% of their investments.
In Woods’ case, FINRA said Morgan Keegan breached his trust and was negligent by investing his money in risky junk bonds.
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