Legal Opinion
Securities & Exchange Commission v. Morgan Keegan & Co.
Court of Appeals for the Eleventh Circuit
Decided May 2, 2012No. 11-13992PublishedCited by 44 opinions
1Per curiam
In this civil enforcement action, the Securities and Exchange Commission (“SEC”) sued Defendant Morgan Keegan & Co. (“Morgan Keegan”) for violating §§ 10(b) and 15(c)(1) of the Exchange Act, § 17(a) of the Securities Act, and SEC Rule 10b-5. The SEC alleges that, in the critical time period of late 2007 and early 2008, Morgan Keegan’s brokers (1) misrepresented that auction rate securities (“ARS”) were safe cash-equivalents with no liquidity risk and (2) despite myriad auction failures and significant trouble in the ARS market, continued to recommend ARS as short-term, liquid investments and…
2Cases cited15 opinions
- Larry Bonner v. City of Prichard, AlabamaCourt of Appeals for the Eleventh Circuit · 1981
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- TSC Industries, Inc. v. Northway, Inc.Supreme Court of the United States · 1976
- Matrixx Initiatives, Inc. v. SiracusanoSupreme Court of the United States · 2011
- Stoneridge Investment Partners, LLC v. Scientific-Atlanta, Inc.Supreme Court of the United States · 2008
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3Cited by44 opinions
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- Securities & Exchange Commission v. TeoCourt of Appeals for the Third Circuit · 2014
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