LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Middle District of Tennessee on behalf of a class (the “Class”) comprising purchasers of the securities of BancorpSouth, Inc. (“BancorpSouth” or the “Company”) (NYSE:BXS) between January 8, 2014 and July 21, 2014, inclusive (the “Class Period”).
Please contact Lesley Portnoy at (888) 773-9224 or (310) 201-9150, or at firstname.lastname@example.org to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
BancorpSouth operates as a financial holding company for BancorpSouth Bank, which provides commercial banking and financial services to individuals and small-to-medium size businesses. The Complaint alleges that: (1) the Company’s credit practices violated Bank Secrecy Act and federal anti-money-laundering programs; (2) the Company’s lending practices were not in compliance with Consumer Financial Protection Bureau regulations; (3) BancorpSouth’s financial statements were materially false and misleading at all relevant times; and (4), regulatory scrutiny into the Company’s lending practices could jeopardize the Company’s planned mergers with Louisiana-based Ouachita Bancshares Corp. and Texas-based Central Community Corporation.
On July 21, 2014, BancorpSouth announced that “federal bank regulators have identified concerns during the course of routine supervisory activities regarding the Company’s procedures, systems and processes related to certain of its compliance programs, including its Bank Secrecy Act and anti-money-laundering programs. In addition, the Consumer Financial Protection Bureau currently is conducting a review of the Company’s fair lending practices.” Following this news, BancorpSouth shares dropped more than 8%, or $1.90 per share, on extremely heavy volume, to close at $21.51 on July 22, 2014.
If you are a member of the Class described above, you may move the Court no later than September 29, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
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