DENVER, July 8, 2010 (GLOBE NEWSWIRE) -- Dyer & Berens LLP (www.DyerBerens.com) today encouraged investors who purchased or otherwise acquired BancorpSouth, Inc. (NYSE:BXS) common stock during the period between July 23, 2009 and February 25, 2010 to consider whether to seek a "lead plaintiff" appointment in the pending securities class action.
If you wish to serve as a lead plaintiff, you must seek such an appointment no later than July 12, 2010. If you wish to discuss the class action lawsuit or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Jeffrey A. Berens, Esq., at (888) 300-3362 x302, (303) 861-1764, or via email at jeff@dyerberens.com. Any member of the putative class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Although investors' ability to share in any recovery is not affected by their decision to seek appointment, lead plaintiffs make important decisions which could affect the overall recovery for class members.
The class action complaint alleges that, during the class period, defendants issued materially false and misleading statements regarding the company's business and financial results and engaged in improper behavior that harmed BancorpSouth's investors by failing to disclose the extent of seriously delinquent commercial real estate loans and construction and land loans. The company also failed to adequately and timely record losses for its impaired loans, causing its financial statements to be materially false. As a result of defendants' allegedly false statements, BancorpSouth's stock traded at artificially inflated prices during the class period, reaching a high of $25.13 per share on October 14, 2009.
Plaintiff seeks to recover damages on behalf of BXS investors. The plaintiff is represented by Dyer & Berens LLP, which has significant expertise in prosecuting investor class actions. For more information about the firm, please go to www.DyerBerens.com.