|By PR Newswire||
|August 29, 2014 05:29 PM EDT||
NEW YORK, Aug. 29, 2014 /PRNewswire/ -- Pomerantz LLP has filed a class action lawsuit against BancorpSouth, Inc. ("BancorpSouth" or the "Company")(NYSE: BXS) and certain of its officers. The class action, filed in United States District Court, Middle District of Tennessee, Nashville Division, and docketed under 14-cv-01564, is on behalf of a class consisting of all persons or entities who purchased BancorpSouth securities between January 8, 2014 and July 21, 2014, inclusive (the "Class Period"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
If you are a shareholder who purchased BancorpSouth securities during the Class Period, you have until September 29, 2014 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
BancorpSouth operates as a financial holding company for BancorpSouth Bank that provides commercial banking and financial services to individuals and small-to-medium size businesses.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's procedures, systems and processes related to certain of its lending and compliance programs. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) BancorpSouth's operations and credit practices violated the Bank Secrecy Act ("BSA") and federal anti-money-laundering programs; (2) the Company's lending practices were not in compliance with the regulations promulgated by the Consumer Financial Protection Bureau; and as a result of the above, (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 severely jeopardize the Company's ability to close recently announced mergers with Central Community Corporation and Ouachita Bancshares Corp.
On July 21, 2014, after the market closed, BancorpSouth issued a press release announcing financial results for the second quarter ended June 30, 2014. The press release also disclosed "The Company 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."
On this news, shares of BancorpSouth fell $1.90, or over 8%, on extremely heavy volume, to close at $21.51 on July 22, 2014.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP
“Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CloudBerry Backup is a leading cross-platform cloud backup and disaster recovery solution integrated with major public cloud services, such as Amazon Web Services, Microsoft Azure and Google Cloud Platform.
Oct. 25, 2016 01:15 AM EDT Reads: 1,386
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
Oct. 25, 2016 01:15 AM EDT Reads: 1,011
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Oct. 25, 2016 01:15 AM EDT Reads: 4,021
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
Oct. 25, 2016 01:15 AM EDT Reads: 3,597
Oct. 25, 2016 12:30 AM EDT Reads: 932
Oct. 25, 2016 12:15 AM EDT Reads: 1,850
Oct. 25, 2016 12:00 AM EDT Reads: 4,173
Oct. 25, 2016 12:00 AM EDT Reads: 4,050
Oct. 24, 2016 11:45 PM EDT Reads: 1,976
Oct. 24, 2016 11:15 PM EDT Reads: 3,846
Oct. 24, 2016 11:00 PM EDT Reads: 2,013
Oct. 24, 2016 09:45 PM EDT Reads: 1,373
Oct. 24, 2016 08:45 PM EDT Reads: 1,041
Oct. 24, 2016 08:30 PM EDT Reads: 1,345
Oct. 24, 2016 08:15 PM EDT Reads: 2,610