NEW YORK, NY--(Marketwired - August 22, 2014) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in BancorpSouth, Inc. ("BancorpSouth" or the "Company") (NYSE: BXS) of the September 29, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against BancorpSouth and certain executives.
A complaint has been filed in the Middle District of Tennessee on behalf of all persons who purchased or otherwise acquired BancorpSouth securities between January 8, 2014 and July 21, 2014, inclusive (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, BancorpSouth made false and/or misleading statements and/or failed to disclose that: (i) the Company's operations and credit practices were in violation of the Bank Secrecy Act ("BSA") as well as federal anti-money-laundering programs; (ii) BancorpSouth's lending practices did not comply with the regulations promulgated by the Consumer Financial Protection Bureau; and (iii) regulatory scrutiny into the Company's lending practices could imperil BancorpSouth's ability to finalize recently announced mergers with Ouachita Bancshares Corp and Central Community Corporation.
On July 21, 2014, the Company issued a press release disclosing that the Company had learned that federal bank regulators identified concerns regarding BancorpSouth's procedures, systems and processes in connection with certain of its compliance programs, including its BSA and anti-money-laundering programs.
On this news, shares of BancorpSouth fell $1.90, or over 8%, to close at $21.51 on July 22, 2014.
Request more information now by clicking here: www.faruqilaw.com/BXS. There is no cost or obligation to you.
Take Action
If you invested in BancorpSouth stock or options between January 8, 2014 and July 21, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/BXS. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding BancorpSouth's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
