Ryan & Maniskas, LLP Announces Class Action Lawsuit Against BancorpSouth, Inc by EON

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WAYNE, Pa.--(EON: Enhanced Online News)--Ryan & Maniskas, LLP announces that a class action lawsuit has been filed on behalf of all who purchased BancorpSouth, Inc. (“BancorpSouth” or the “Company”) (NYSE: BXS) common stock. img border='0' title='Add to Google' alt='Add to Google' src='http://images.pheedo.com/ima

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									Ryan & Maniskas, LLP Announces Class Action
Lawsuit Against BancorpSouth, Inc.
May 13, 2010 07:03 PM Eastern Daylight Time  

WAYNE, Pa.--(EON: Enhanced Online News)--Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/bxs)
announces that a class action lawsuit has been filed in United States District Court for the Middle District of
Tennessee on behalf of all persons or entities who purchased BancorpSouth, Inc. (“BancorpSouth” or the
“Company”) (NYSE: BXS) common stock during the period between July 23, 2009 and February 25, 2010 (the
“Class Period”).

For more information regarding this class action suit, please contact Ryan & Maniskas (Richard A. Maniskas,
Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit:
www.rmclasslaw.com/cases/bxs.

BancorpSouth is a financial holding company. The complaint alleges that BancorpSouth and certain of its officers and
directors violated the Securities Exchange Act of 1934. Specifically, it is alleged that defendants failed to disclose the
following material adverse facts: (1) that the defendants failed to reflect impairments in its construction and
commercial real estate loans; (2) that the Company’s financial statements were presented in violation of Generally
Accepted Accounting Principles (“GAAP”) due to the defendants’ actions; and (3) that the Company lacked
adequate internal controls.

On February 25, 2010, after the market closed, BancorpSouth announced that it would be postponing the filing of
its Form 10-K with the SEC for the year ended December 31, 2009, in order to further review its allowance for
credit losses and their impact on the Company’s results. BancorpSouth further reported that based on its review, it
expected to adjust its previously reported financial results for the quarter and year ended December 31, 2009 to
decrease net income. On this news, BancorpSouth’s stock fell $3.10 per share to close at $19.47 per share on
February 26, 2010, a one-day decline of over 13% on high volume, and a decline of 23% from the stock’s Class
Period high.

If you are a member of the class, you may, no later than July 12, 2010, request that the Court appoint you as lead
plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing
the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical
of the claims of other class members, and that the class member will adequately represent the class. Under certain
circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any
recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan &
Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.

For more information about the case or to participate online, please visit: www.rmclasslaw.com/cases/bxs, or
contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at rmaniskas@rmclasslaw.com. For
more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our
website: www.rmclasslaw.com.

Contacts
Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
877-316-3218
rmaniskas@rmclasslaw.com
www.rmclasslaw.com/cases/bxs
Permalink: http://eon.businesswire.com/news/eon/20100513006842/en/BXS/BancorpSouth/Maniskas

								
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