Regions Morgan Keegan ERISA Litigation
United States District Court for the Western District of Tennessee
Case No. 2:08-cv-02192-SHM-dvk
In re Regions Morgan Keegan ERISA Litig., was filed on behalf of plan participants and beneficiaries in the Regions 401(k) Plan and two predecessor plans alleging claims for breach of fiduciary duty arising from imprudent investment options including: (a) Regions stock; (b) alleged excessive fees in the RMK Select Funds; and (c) three RMK Select Bond Funds.
The Court consolidated these claims with those asserted on behalf of participants and beneficiaries in Customer Plans for which Regions provided custodian, trustee, investment management or investment advisory services. The Customer Plans claims alleged breach of fiduciary duty arising from inclusion of the RMK Select Bond Funds on the list of approved funds for the Customer Plans.
On December 24, 2014, the Court entered the Final Approval Order approving the four Settlement Subclasses, Appointed Co-lead Class Counsel and the plan for dissemination of the settlement funds.
The Settlement Administrator completed the distribution of the settlement funds to the subclasses.