Investors in two Morgan Keegan Asset Management bond mutual funds have filed a federal lawsuit with the U.S. District Court in the western district of Tennessee seeking class-action status and a jury trial, and many in the industry are expecting additional suits in the coming months, The Wall Street Journal reports. Already, State Street is facing a similar lawsuit of its own.

The Regions Morgan Keegan Select Intermediate Bond Fund is down 47% so far this year, and the Morgan Keegan Select High Income Fund has fared even worse, losing 56%.

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