Morgan Keegan wins dismissal of SEC lawsuit

Regions Financial Corp won the dismissal of a Securities and Exchange Commission lawsuit accusing its Morgan Keegan unit of fraudulently selling auction-rate securities, six days after agreeing to pay $210 million to settle a separate fraud case…. In his 31-page ruling, Duffey said Morgan Keegan adequately disclosed the debt’s risks to investors, and that the total mix of information it provided “clearly and repeatedly” illustrated the liquidity risks.

Read more: Morgan Keegan wins dismissal of SEC lawsuit — Reuters