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Kendall Law Group Plans Class Action on Behalf of BancorpSouth, Inc.

^{Published on 2010-05-18 06:00:38 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ] announced today that it plans to join a lawsuit on behalf of shareholders of BancorpSouth, Inc. (NYSE:BXS), alleging securities violations by the Company and certain of its officers for violations of the federal securities laws. False and misleading public statements filed by the Company caused artificially inflated stock prices from July 23, 2009 to February 25, 2010. If you wish to learn more about your rights as a shareholder or have information concerning this action, you are encouraged to contact attorney Scott Kendall at 877-744-3728 or [ skendall@kendalllawgroup.com ].

Any shareholder who purchased BXS stock during this time period may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by July 12, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff.

On February 25, 2010, BancorpSouth announced the need to postpone filing of its 10-K with the SEC for the year ended December 31, 2009, to allow time to further review its allowance for credit losses and their impact on the companya™s results. The announcement also stated that BancorpSouth also expected to decrease net income on its previously reported financial results for the quarter and year ended December 31, 2009. After this announcement, stock prices fell 13%, closing at $19.47 on February 26, 2010.

A class action complaint has been filed in the Middle District of Tennessee alleging improper behavior by BancorpSouth and certain executives. Allegedly, the Companya™s failure to disclose the extent of delinquent commercial real estate, construction, and land loans caused direct harm to its investors. The complaint also alleges that the Company failed to adequately and timely record losses for its impaired loans, causing materially false financial statements and artificially inflated stock prices.

Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm led by former federal judge and former U.S. Attorney, is a national securities firm that represents shareholders when publicly traded companies violate the law. Shareholders who purchased BancorpSouth common stock before or during the relevant period may have a claim against the company and are urged to contact attorney Scott Kendall for more information.

Scott Kendall

Kendall Law Group LLP

3232 McKinney Ave., Ste. 700

Dallas, TX 75204

(214) 744-3000 Telephone

(214) 744-3015 Facsimile

(877) 744-3728 Toll Free

[ skendall@kendalllawgroup.com ]

[ www.kendalllawgroup.com ]