Burgess Ex Rel. BancorpSouth, Inc. v. Patterson

KITCHENS, Justice,

for the Court:

¶ 1. William Burgess, a common stock shareholder of BancorpSouth, Inc., filed a shareholder derivative action in the Circuit Court of Lee County after a Special Committee comprised of BancorpSouth directors and officers rejected his presuit demand. Burgess, in his presuit demand and in his Shareholder Derivative Complaint, made various 'claims relating to alleged- misrepresentations in company publications directed to shareholders following the 2008 economic downturn. Ultimately, the Circuit Court of Lee County dismissed the action. For the reasons stated…