Plaintiffs agreed to dismiss actions related to Gulfport, Miss.-based Hancock Whitney Corp.'s pending acquisition of Lafayette, La.-based MidSouth Bancorp Inc.
MidSouth determined to voluntarily supplement its Aug. 13 proxy statement to moot disclosure claims from plaintiffs in actions filed in connection with the deal.
The actions generally allege that MidSouth and its directors violated federal securities laws or breached duties under Louisiana state law by issuing allegedly misleading disclosures, and that Hancock Whitney aided and abetted the alleged breaches of fiduciary duty by the individual defendants.
In light of the supplemental disclosures, a letter alleging that MidSouth and its directors violated their fiduciary duties and federal securities laws is being withdrawn. Also, plaintiffs in separate actions filed in the U.S. District Court for the Southern District of New York and the 15th Judicial District Court for the Parish of Lafayette have agreed to dismiss their individual claims with prejudice.
MidSouth denies all allegations that any additional disclosure was, or is, required.
