SAN DIEGO and TUPELO,
Miss., July 30, 2014 /PRNewswire/ --
Shareholder rights law firm Robbins Arroyo LLP is investigating
whether certain officers and directors of BancorpSouth, Inc. (NYSE:
BXS) breached their fiduciary duties to shareholders.
BancorpSouth is a financial holding company for BancorpSouth Bank
that provides commercial and retail banking products and services
to individuals and small-to-medium size businesses.
View the investigation on the law firm's Shareholder Rights
Blog:
www.robbinsarroyo.com/shareholders-rights-blog/bancorpsouth-inc
BancorpSouth Postpones Merger Due to Federal
Inquiries
On July 21, 2014, BancorpSouth
issued a press release announcing, among other things, the
company's second quarter financial results. In this announcement,
BancorpSouth revealed that during routine supervisory activities,
federal regulators identified weaknesses in the company's
procedures, systems, and processes in relation to their Bank
Secrecy Act and anti-money laundering programs. In addition, the
company announced that the Consumer Financial Protection Bureau is
in the process of reviewing the BancorpSouth's fair lending
practices. Due to these investigations, BancorpSouth extended its
timeline regarding the acquisition of Ouachita Bancshares Corp. and
Central Community Corporation to June 30,
2015 in order to obtain the required regulatory approvals
and satisfy required closing conditions.
In light of this news, Robbins Arroyo LLP is investigating
whether BancorpSouth's board of directors breached its fiduciary
duties to shareholders by failing to implement adequate internal
controls to ensure that BancorpSouth complied with federal policies
and procedures regarding the Bank Secrecy Act, anti- money
laundering efforts, and fair lending practices.
BancorpSouth Shareholders Have Legal Options
Robbins Arroyo LLP highlights that BancorpSouth shareholders
have the option to pursue a shareholder litigation demand or
shareholder derivative action through which shareholders aim to
hold insider wrongdoers accountable for their actions, prevent
future misconduct, and bring long-term value back to the
company. Concerned shareholders who would like more
information about their rights and potential remedies can contact
attorney Darnell R. Donahue at (800)
350-6003, DDonahue@robbinsarroyo.com, or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits, and has helped its clients realize more than
$1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a
similar outcome.
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
DDonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
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SOURCE Robbins Arroyo LLP