After a string of high-profile securities arbitration losses, US broker dealer Morgan Keegan & Co has emerged as a victor in an $8.2 million investor complaint that alleged unsuitability and breach of fiduciary duty related to firm's bond funds, according to Investment News.

 Morgan Keegan, a subsidiary of Regions Financial Corp., is faced with hundreds of arbitration claims from investors who bought the company's bond funds and have seen as much as 95 per cent of the funds' value evaporate since mid-2007, the publication said

This year, Morgan Keegan lost cases of $1.45 million to Horace Grant, a former NBA all-star, and $950,000 to ex-NFL Pro Bowler Jerome Woods.

The victory in latest claims, however, suggests that results in these matters are not a foregone conclusion. The case also highlights how heavy losses sustained in the financial crisis have spawned a flood of lawsuits, both in the US and abroad.

The investors whose claims were just denied were led by William Strong, who filed the claim against Morgan Keegan in January 2008. The Strong Company, another claimant listed on the lawsuit, produces construction and maintenance products.

Mr. Strong did not return a call seeking comment.