Labaton Sucharow LLP Announces Summary Notice of Pendency of Class Action and Proposed Settlement and Motion for Attorneys' Fees

Labaton Sucharow LLP Announces Summary Notice of Pendency of Class Action and
       Proposed Settlement and Motion for Attorneys' Fees and Expenses

PR Newswire

NEW YORK, Jan. 25, 2013

NEW YORK, Jan. 25, 2013 /PRNewswire/ --The following statement is being
issued by Labaton Sucharow LLP  regarding the In re Regions Morgan Keegan
Closed-End Fund Litigation.

IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF TENNESSEE
WESTERN DIVISION

IN RE REGIONS MORGAN KEEGAN SECURITIES, DERIVATIVE & ERISA LITIGATION
No. 09-md-02009-SHM

This Document Relates to: In re Regions Morgan Keegan Closed-End Fund
Litigation,
No. 07-cv-02830 SHM dkv

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT AND MOTION
FOR ATTORNEYS' FEES AND EXPENSES

TO: All Persons who purchased or otherwise acquired the publicly traded
shares of: (i) RMK High Income Fund, Inc. ("RMH") between June 24, 2003 and
July 14, 2009, inclusive, and were damaged thereby; (ii) RMK Strategic Income
Fund, Inc. ("RSF") between March 18, 2004 and July 14, 2009, inclusive, and
were damaged thereby; (iii) RMK Advantage Income Fund, Inc. ("RMA") between
November 8, 2004 and July 14, 2009, inclusive, and were damaged thereby; (iv)
RMK Multi-Sector High Income Fund, Inc. ("RHY") between January 19, 2006 and
July 14, 2009, inclusive, or pursuant or traceable to the Registration
Statement, Prospectus, and Statement of Additional Information filed by RHY on
or about January 19, 2006 with the SEC; and (v) all members of the TAL
Subclass (collectively, the "Class" or "Class Members" as further defined in
the Settlement Agreement).

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil
Procedure and an order of the Court, that the Class in the above-captioned
litigation ("Action") has been preliminarily certified for the purposes of
settlement only and that a settlement between Lead Plaintiffs Lion Fund, L.P.,
Dr. J. Samir Sulieman, and Larry Lattimore ("Lead Plaintiffs") and C. Fred
Daniels, in his capacity as Court-appointed Trustee Ad Litem ("TAL") for the
Leroy McAbee, Sr. Family Foundation Trust (the "McAbee Foundation Trust") (the
McAbee Foundation Trust together with the Lead Plaintiffs, "Plaintiffs"), on
behalf of themselves and the Class and the TAL Subclass, and Defendants Morgan
Keegan & Company, Inc., Morgan Asset Management, Inc., MK Holding, Inc.,
Regions Financial Corporation, RMH, RSF, RMA, RHY, James C. Kelsoe, Jr.,
Carter E. Anthony, Brian B. Sullivan, Joseph Thompson Weller, Allen B. Morgan,
Jr., and J. Kenneth Alderman (collectively, "Defendants"), in the amount of
$62 million in cash, has been proposed by the Parties. A full description of
the Class and the Settlement can by found in the Notice of Pendency of Class
Action and Proposed Settlement and Motion for Attorneys' Fees and Expenses
(the "Notice").

A hearing will be held before the Honorable Samuel H. Mays, Jr. of the United
States District Court for the Western District of Tennessee, Western Division,
in the Clifford Davis/Odell Horton Federal Building, 167 North Main Street,
11th Floor, Courtroom 2, Memphis, Tennessee 38103 at 9:30 a.m. on April 12,
2013 to, among other things: determine whether the proposed Settlement should
be approved by the Court as fair, reasonable, and adequate; determine whether
the proposed Plan of Allocation for distribution of the settlement proceeds
should be approved as fair and reasonable; and consider the application of
Lead Counsel for an award of attorneys' fees and payment of litigation
expenses. The Court may change the date of the hearing without providing
another notice.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED
SETTLEMENT AND YOU MAY BE ENTITLED TO RECEIVE MONEY FROM THE NET SETTLEMENT
FUND. If you have not yet received the full printed Notice and a Proof of
Claim and Release Form ("Proof of Claim"), you may obtain copies of these
documents by contacting the Claims Administrator:

In re Regions Morgan Keegan Closed-End Fund Litigation
c/o The Garden City Group, Inc.
PO Box 9939
Dublin, Ohio 43017-5939
Phone: 1 (888) 895-9227
Questions@rmkclosedendfundsettlement.com
www.rmkclosedendfundsettlement.com

Inquiries, other than requests for information about the status of a claim,
may also be made to Lead Counsel:

LABATON SUCHAROW LLP
Joel H. Bernstein, Esq.
David J. Goldsmith, Esq.
140 Broadway
New York, NY 10005
Tel: (888) 219-6877
www.labaton.com
settlementquestions@labaton.com

If you are a Class Member, to be eligible to share in the distribution of the
Net Settlement Fund, you must submit a Proof of Claim to the Claims
Administrator postmarked or otherwise received no later than May 20, 2013. To
exclude yourself from the Class, you must submit a written request for
exclusion in accordance with the instructions set forth in the Notice such
that it is received no later than March 22, 2013. If you are a Class Member
and do not exclude yourself from the Class, you will be bound by the Final
Order and Judgment of the Court. Any objections to the proposed Settlement,
Plan of Allocation, and/or application for attorneys' fees and payment of
litigation expenses must be filed with the Court and served on counsel for the
Parties in accordance with the instructions set forth in the Notice, such that
they are received no later than March 22, 2013.

If you are a Class Member and do not timely submit a valid Proof of Claim, you
will not be eligible to share in the Net Settlement Fund, but you nevertheless
will be bound by the Final Order and Judgment.

                            BY ORDER OF THE UNITED STATES DISTRICT COURT FOR

DATED: January 4, 2013      THE WESTERN DISTRICT OF TENNESSEE

                            

SOURCE Labaton Sucharow LLP

Website: http://www.labaton.com
Contact: Jennifer S. Bankston, +1-212-907-0700
 
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