BancorpSouth Inc., Securities Litigation
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Frequently Asked Questions

  1. Why Did I Receive A Notice Package?
  2. I Have Not Received A Notice Package. How can I get one?
  3. What Is This Lawsuit About?
  4. How Do I Know if I Am Part of the Settlement?
  5. What Does the Settlement Provide?
  6. How Much Will My Payment Be?
  7. How Will I Obtain a Payment?
  8. If I Am An Employee Do I Need To Submit a Claim Form?
  9. Do I need to include "Proof of Authority to File"?
  10. What should I do if I have more transactions or other relevant data than will fit on the claim form?
  11. What do I do if I don't have the type of documentation/proof requested by the Proof of Claim?
  12. Is my distribution taxable?
  13. Where do I send my claim form?
  14. What if I have additional questions?
  1. Why Did I Receive A Notice Package?

    You or someone in your family may have purchased or acquired BancorpSouth common stock between April 23, 2009 and July 22, 2010, inclusive.

    The Court sent you a Notice because you have a right to know about a proposed settlement of a class action lawsuit, and about all of your options, before the Court decides whether to approve the Settlement. If the Court approves the Settlement and after any objections or appeals are resolved, the Claims Administrator appointed by the Court will make the payments that the Settlement allows.

    This Notice Package you received explains the lawsuit, the Settlement, your legal rights, what benefits are available, who is eligible for them, and how to get them.

    The Court in charge of the case is the United States District Court for the Middle District of Tennessee, and the case is known as Winslow v. BancorpSouth, Inc., et al., Civil Action No. 3:10-cv-00463. The individual who sued is called the Lead Plaintiff, and the company and individuals he sued, BancorpSouth, Aubrey B. Patterson, Jr., James V. Kelley, William L. Prater, and Gregg Cowsert, are called the Defendants

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  2. I Have Not Received A Notice Package. How can I get one?

    If you have not received a Notice Package and have purchased or acquired BancorpSouth common stock between April 23, 2009 and July 22, 2010, inclusive, please call Gilardi & Co. LLC, the Claims Administrator, at (888) 212-8296, or email classact@gilardi.com and request a Notice Package be sent to you.

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  3. What Is This Lawsuit About?

    This case was brought as a class action alleging that Defendants made false and misleading statements about the operations and financial results of BancorpSouth’s lending business, including adequacy of its loan loss reserves and the purported strength of its borrowing standards, loan controls, and credit quality. Lead Plaintiff contends that the Defendants violated the federal securities laws by knowingly and recklessly understating BancorpSouth’s provision for credit losses in its financial statements (including its reserves for delinquent loans and charge-offs for non-performing loans) during the Settlement Class Period and that it misrepresented the nature and strength of its internal controls for evaluating and setting those reserves. Lead Plaintiff asserts that as a result of these and other actions, the market price of BancorpSouth’s common stock was artificially and improperly inflated between April 23, 2009 and July 22, 2010 and that Settlement Class Members overpaid for BancorpSouth common stock purchased during this time period.

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  4. How Do I Know if I Am Part of the Settlement?

    The Settlement Class includes all purchasers or acquirers of BancorpSouth common stock during the Settlement Class Period, which is between April 23, 2009 and July 22, 2010, inclusive. If you would like for us to determine your eligibility please fill out and submit a claim form with supporting documentation.

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  5. What Does the Settlement Provide?

    Defendants directors’ and officers’ liability insurers have agreed to pay $29,250,000 in cash in settlement of this matter. The balance of this fund after payment of Court-approved attorneys’ fees and expenses and the costs of claims administration, including the costs of printing and mailing this Notice and the cost of publishing newspaper notice (the “Net Settlement Fund”) will be divided among all eligible Settlement Class Members who send in valid claim forms.

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  6. How Much Will My Payment Be?

    Your share of the Net Settlement Fund will depend on the number of valid claim forms that Settlement Class Members send in and the number of shares of BancorpSouth common stock you purchased or acquired during the relevant period and when you bought and sold them. Please refer to page 4 of the Notice of Pendency and Proposed Settlement of Class in section 9 that describes in detail the Plan of Allocation and how your claim will be calculated.

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  7. How Will I Obtain a Payment?

    To qualify for payment, you must be an eligible Settlement Class Member, send in a timely and valid claim form, and properly document your claim as requested in the claim form. A claim form is enclosed with this Notice. Read the instructions carefully, fill out the form, include all the documents the form asks for, sign it, and mail it in the enclosed envelope postmarked no later than November 20, 2012.

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  8. If I Am An Employee Do I Need To Submit a Claim Form?

    The Trustee of the 401k Plan will be filing a claim on behalf of Plan Participants. If you acquired your shares through the 401k Plan you do not need to submit a claim. However, if you purchased BancorpSouth outside of you 401k between April 23, 2009 and July 22, 2010, inclusive, you will need to file a claim on your own behalf for these additional transactions.

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  9. Do I need to include "Proof of Authority to File"?

    If you are the direct claimant or beneficial owner in a matter, you do not need to provide proof of authority to file. If you are filing on behalf of another party you must include your proof of authority to file on their behalf.

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  10. What should I do if I have more transactions or other relevant data than will fit on the claim form?

    Please make copies of the necessary page(s) of the claim form, write the additional transactions/data on the copied page(s) and initial each page. Incomplete Proof of Claim forms may be returned to the claimant with a letter of explanation.

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  11. What do I do if I don't have the type of documentation/proof requested by the Proof of Claim?

    You can file a claim without the requested documentation. We will contact you via letter if we find that your claim is deficient. You will have a period of time to correct your claim form. If you do not correct your claim form, it may be rejected and you will not be able to participate in the settlement fund.

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  12. Is my distribution taxable?

    The tax treatment of any distribution varies based on the nature of the settlement, the claimant's tax status and the treatment of the claimant's investments/activity underlying the claim. You should consult your tax advisor to determine the tax consequence, if any, regarding the distribution you receive. Please note that the Internal Revenue Service has issued regulations under Internal Revenue Code Section 468B which provide in part:

    "Whether a distribution to a claimant is included in the claimant's gross income is generally determined by reference to the claim in respect of which the distribution is made and as if the distribution were made directly by the transferor."

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  13. Where do I send my claim form?

    Please send your completed and signed claim form to the following address:

    BancorpSouth Securities Litigation
    Claims Administrator
    c/o Gilardi & Co. LLC
    P.O. Box 8040
    San Rafael, CA 94912-8040

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  14. What if I have additional questions?

    If you have any additional questions, please contact Gilardi & Co. LLC, the Claims Administrator, toll-free at (888) 212-8296, by email classact@gilardi.com, or by writing to the address listed above in question 13.

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