Kendall Law Group Begins Investigation for BancorpSouth, Inc. Shareholders

Kendall Law Group, a national securities firm, today announced that it is investigating BancorpSouth, Inc. (NYSE:BXS) for potential violations of state and federal securities laws. The firm believes that public statements made by Bancorp misled investors about the performance of the Company. Shareholders who purchased BXS stock between May 15, 2009 and March 16, 2010 may have a claim against the company and are encouraged contact the firm at 877-744-3728 or hlindley@kendalllawgroup.com for more information.

On February 25, 2010, Bancorp announced that they would be postponing the filing of their 10-K for the year ended December 31, 2009. Bancorp also expects to adjust the financial results for the quarter and year ended December 31, 2009 to decrease net income. The announcement stated that these adjustments were due to certain asset quality indicators and their impact on the financial statements. Stock prices dropped over 13% on February 26, 2010.

On March 15, 2010, Bancorp announced the filing of its 10-K for the year ended December 31, 2009 and revisions to its results for the fourth quarter and year ended December 31, 2009. The revisions included a $27.6 million increase in the provision for credit losses, a $4.5 million increase in foreclosed property expense, a $2.3 million expense related to a specific litigation matter, and a reversal of interest income totaling $606,000 related to loans placed on non-accrual. The revisions also included $21.6 million decrease in net income.

Kendall Law Group, led by a former federal judge and former U.S. Attorney, has the credentials to pursue any type of complex securities litigation in the nation. The firm gives shareholders a voice when companies violate the securities laws. Protect your rights as a BXS shareholder by contacting Kendall Law Group.

BancorpSouth Bank (NYSE:BXS)
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