BancorpSouth, shareholders ask judge to approve settlement
Published: July 12,2012
TUPELO — BancorpSouth Inc. and a group of shareholders have asked a federal judge in Tennessee to approve a settlement of a 2010 lawsuit.
The Northeast Mississippi Daily Journal reports the proposal was filed recently in U.S. District Court of Middle Tennessee in Nashville after “arm’s-length negotiations” between mediators for both parties.
The lawsuit was filed by Edward B. Winslow on behalf of himself and as many as 150,000 other shareholders.
The settlement calls for payment of $29.2 million by BancorpSouth.
Winslow claimed in the lawsuit that BancorpSouth and its leadership violated federal securities laws by issuing materially false and misleading statements regarding BancorpSouth’s business and financial results. BancorpSouth officials deny all of the allegations of wrongdoing.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- BILL CRAWFORD: Dan Jones not the angel he is portrayed to be
- DAVID DALLAS — Just how long can Dan stand?
- The Dan Jones-IHL saga: Is this the story that started it all?
- Cal-Maine income skyrockets as prices rise and costs shrink
- Chancery judge delays JRA bond approval for Jackson's Westin hotel
- Business groups file briefs in support of Kemper coal plant rehearing
- Lawmakers move on bonds despite complaints from colleges and universities
- Grain scandal takes its toll on Delta farmers
- KILL BILL: Common Core death knell heads to Gov. Bryant's desk