The Shareholders Foundation announces that an investor, who purchased shares of BancorpSouth, Inc. (NYSE:BXS), filed a lawsuit in the U.S. District Court for the Middle District of Tennessee over alleged violations of Federal Securities Laws by BancorpSouth, Inc. in connection with certain allegedly false and misleading statements made between January 8, 2014 and July 21, 2014.
Investors who purchased shares BancorpSouth, Inc. (NYSE:BXS) have certain options and for certain investors are short and strict deadlines running. Deadline: September 29, 2014. NYSE:BXS investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of BancorpSouth, Inc. (NYSE:BXS) common shares between January 8, 2014 and July 21, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that theDefendants made allegedly false and/or misleading statements and/or failed to disclose that BancorpSouth, Inc.’s operations and credit practices violated the Bank Secrecy Act (“BSA”) and federal anti-money-laundering programs, that BancorpSouth, Inc.’s lending practices were not in compliance with the regulations promulgated by the Consumer Financial Protection Bureau; and as a result of the above, that BancorpSouth, Inc.’s financial statements were materially false and misleading at all relevant times, and that regulatory scrutiny into the Company’s lending practices could severely jeopardize the Company’s ability to close recently announced mergers with Central Community Corporation and Ouachita Bancshares Corp.
BancorpSouth, Inc. reported that its annual Net Income rose from $22.94 million in 2010 to $94.11 million in 2013. Shares of BancorpSouth, Inc. (NYSE:BXS) grew from $8.57 per share in November 2011 to as high as $25.90 per share in April 2014.
Then on July 22, 2014, BancorpSouth, Inc. announced its second quarter 2014 financial results. Among other things, BancorpSouth, Inc. also said that it has learned 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, BancorpSouth, Inc. said that the Consumer Financial Protection Bureau currently is conducting a review of the Company’s fair lending practices. Shares of BancorpSouth, Inc. (NYSE:BXS) declined from $23.41 per share on July 21, 2014, to as low as $20.87 per share on July 23, 2014 and continued to decline to as low as $20.21 per share on August 7, 2014.
On August 18, 2014, NYSE:BXS shares closed at $20.96 per share.
Those who purchased shares of BancorpSouth, Inc. (NYSE:BXS) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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