Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the BancorpSouth Securities Litigation

NASHVILLE, Tenn.--()--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the BancorpSouth Securities Litigation:

 
UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF TENNESSEE
NASHVILLE DIVISION
             

WILLIAM E. BURGES and ROSE M. BURGES,
Individually and on Behalf of All Others Similarly
Situated,

                                            Plaintiffs,

          vs.

BANCORPSOUTH, INC., et al.,

                                            Defendants.

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Civil Action No. 3:14-cv-01564
The Honorable Waverly D. Crenshaw, Jr.
The Honorable Jeffery S. Frensley
CLASS ACTION
SUMMARY NOTICE

 

TO:

ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED BANCORPSOUTH, INC. (“BANCORPSOUTH”) PUBLICLY TRADED COMMON STOCK BETWEEN JULY 12, 2013 AND JULY 21, 2014, INCLUSIVE

 

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Middle District of Tennessee, Nashville Division, that a hearing will be held on September 21, 2018, 2018, at 1:30 p.m., before the Honorable Waverly D. Crenshaw, Jr. at the United States District Court for the Middle District of Tennessee, Nashville Division, Estes Kefauver Federal Building & Courthouse, 801 Broadway, Nashville, Tennessee 37203, for the purpose of determining: (1) whether the proposed settlement of the Litigation for $13 million should be approved by the Court as fair, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice and releasing the Released Claims; (3) whether the Plan of Allocation for the Net Settlement Fund is fair, reasonable, and adequate and should be approved; and (4) whether the application of Class Counsel for the payment of attorneys’ fees and expenses and any award to Class Representative pursuant to 15 U.S.C. §78u-4(a)(4) should be approved.

IF YOU PURCHASED OR ACQUIRED BANCORPSOUTH COMMON STOCK BETWEEN JULY 12, 2013 AND JULY 21, 2014, INCLUSIVE (THE “CLASS PERIOD”), YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION, INCLUDING THE RELEASE AND EXTINGUISHMENT OF CLAIMS YOU MAY POSSESS RELATING TO YOUR PURCHASE OR ACQUISITION OF BANCORPSOUTH COMMON STOCK DURING THE CLASS PERIOD. If you have not received a detailed Notice of Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release form, you may obtain copies by writing to BancorpSouth Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 404061, Louisville, KY 40233-4061, or on the Internet at www.BancorpSouthSecuritiesLitigation.com. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail (postmarked no later than August 23, 2018,), or online at www.BancorpSouthSecuritiesLitigation.com no later than August 23, 2018, establishing that you are entitled to recovery.

If you purchased or acquired BancorpSouth common stock during the Class Period and you desire to be excluded from the Class, you must submit a request for exclusion so that it is received no later than August 31, 2018, in the manner and form explained in the detailed Notice referred to above. All Members of the Class who do not timely and validly request exclusion from the Class will be bound by any judgment entered in the Litigation pursuant to the Stipulation of Settlement.

Any objection to the Settlement, the Plan of Allocation, Class Counsel’s request for attorneys’ fees and expenses, and Class Representative’s request for time and expenses must be received by counsel no later than August 31, 2018 and the Court no later than September 7, 2018:

       

CLERK OF THE COURT
UNITED STATES DISTRICT
COURT

MIDDLE DISTRICT OF
TENNESSEE
NASHVILLE DIVISION
Estes Kefauver Federal Building
& Courthouse
801 Broadway, Room 800
Nashville, TN 37203

Class Counsel:

ROBBINS GELLER RUDMAN
  & DOWD LLP
Ellen Gusikoff Stewart
655 West Broadway, Suite 1900
San Diego, CA 92101

Counsel for Defendants:

K&L GATES LLP
Amy J. Eldridge
1601 K Street, NW
Washington, DC 20006-1600

 

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Class Counsel at the address listed above.

DATED: April 3, 2018                                                  

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF TENNESSEE
NASHVILLE DIVISION

 

Contacts

Robbins Geller Rudman & Dowd LLP
Shareholder Relations
Rick Nelson, 1-619-231-1058

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