BANCORPSOUTH ALERT - Andrews & Springer LLC Announces Update in the Securities Fraud Lawsuit Against BancorpSouth, Inc. - BXS...
16 December 2015 - 12:03AM
Andrews & Springer LLC, a boutique securities class action
law firm focused on representing shareholders nationwide, announces
an update to the securities fraud class action lawsuit filed on
behalf of investors of BancorpSouth, Inc. (NYSE:BXS)
(“BancorpSouth” or the “Company”) in the U.S. District Court,
Middle District of Tennessee, that was initially filed on July 31,
2014.
A copy of the complaint is available from the Court or from
Andrews & Springer LLC. If you currently own shares of
BancorpSouth and want to receive additional information about your
rights, free of charge, please visit us at
http://www.andrewsspringer.com/cases-investigations/bancorpsouth-class-action
or contact Craig J. Springer, Esq.
at cspringer@andrewsspringer.com, or call toll free at
1-800-423-6013. You may also follow us on LinkedIn –
www.linkedin.com/company/andrews-&-springer-llc, Twitter –
www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
According to the lawsuit, on July 21, 2014, BancorpSouth issued
a press release revealing, among other things, that during routine
supervisory activities, federal regulators identified weaknesses in
the Company's procedures, systems, and processes in relation to
their Bank Secrecy Act and anti-money laundering programs. In
addition, the company announced that the Consumer Financial
Protection Bureau was in the process of reviewing the
BancorpSouth's fair lending practices. Due to these investigations,
BancorpSouth extended its timeline regarding the acquisition of
Ouachita Bancshares Corp. and Central Community Corporation to June
30, 2015 in order to obtain the required regulatory approvals and
satisfy required closing conditions.
As a result of the foregoing news, on July 22, 2014,
BancorpSouth shares fell 7% in intraday trading, causing investor
millions in losses.
On July 31, 2014, a BancorpSouth shareholder represented by
another law firm filed a class action complaint against
BancorpSouth for federal securities fraud. The complaint was
filed in the United States District Court, Middle District of
Tennessee, Case No. 3:14-cv-01564.
On July 10, 2015, the United States District Court, Middle
District of Tennessee denied BancorpSouth’s motion to dismiss the
case, allowing the case to proceed forward.
If you currently own shares of BancorpSouth and want to receive
additional information about your rights, free of charge, please
visit us at
http://www.andrewsspringer.com/cases-investigations/bancorpsouth-class-action
or contact Craig J. Springer, Esq.
at cspringer@andrewsspringer.com, or call toll free at
1-800-423-6013. You may also follow us on LinkedIn –
www.linkedin.com/company/andrews-&-springer-llc, Twitter –
www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law
firm representing shareholders nationwide who are victims of
securities fraud, breaches of fiduciary duty or corporate
misconduct. Having formerly defended some of the largest financial
institutions in the world, our founding members use their valuable
knowledge, experience, and superior skill for the sole purpose of
achieving positive results for investors. These traits are the
hallmarks of our innovative approach to each case our Firm
decides to prosecute. For more information please visit our website
at www.andrewsspringer.com. This notice may constitute Attorney
Advertising.
Contact: Craig J. Springer, Esq.
cspringer@andrewsspringer.com
Toll Free: 1-800-423-6013
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