Morgan Keegan

Indictment in New York State v. Scott Kupersmith, Northbrae Capital Group Inc., Fullerton Capital Group Inc., Atlantic Southern Capital Group Inc., Antibe Arbitrage Group Inc., and Oxford Smith Advisors LLC at New York State Supreme Court.

Bermuda-based Security Capital Assurance Ltd., in which XL Capital owns a 46% stake, has been hit with a new wave of class action lawsuits. Already facing class action litigation brought on behalf of shareholders for alleged fraud, the latest lawsuits seek to recover damages on behalf of purchasers of municipal derivatives from January 1, 1992 to the present. The latest class action complaints - numbering three so far - were filed at three different federal courts in the United States from March 12 to April 23, 2008, with eight municipalities or cities and one university as the specimen plaintiffs.

ESG Re senior officers have been buying the firm's shares recently, notwithstanding its awful performance, culminating in its de-listing by Nasdaq effective February 3.

Two Tennessee stock brokers accused of profiting from insider trading in shares of Mid Ocean Ltd. prior to the announcement of its acquisition by EXEL in March, 1998 have settled an SEC lawsuit. Cristan Kinnard Blackman and Charles Ray Roberts Jr., who both worked for broker Morgan Keegan & Co. at the time, agreed to disgorge profits of $317,409 that they made from the trades.

Six people have been accused of insider trading by the SEC after making a profit of $405,000 from dealing in stock and options of Mid Ocean Ltd. prior to its purchase in 1998 by EXEL.