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
- DAVID DALLAS — Roger Wicker: Profile in discouragement
- Attorney McRae challenging Miss. treasurer in GOP primary
- Ecolab reducing Columbus workforce
- Tommy Robertson indicted on five counts of embezzlement
- Judge names receiver for KiOR plant, but tax payment unclear
- State's ventures into alt-fuel markets net few jobs
- BILL CRAWFORD — More jobs, but fewer with jobs, huh?
- Rival plans filed to end Cleveland schools federal oversight
- Lab owner loses challenge to 40 months in waste case