UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF FLORIDA

GAINESVILLE DIVISION

SHANE SWIFT, on Behalf of 

Himself and All Others Similarly 

Situated, 

Plaintiff,

vs.

BANCORPSOUTH BANK,

Defendant.

Case No. 1:10-cv-00090-GRJ

 

FINAL JUDGMENT

The Court, having entered the Order Granting Final Approval of 

Settlement, Authorizing Service Award, and Granting Application For 

Attorneys’ Fees dated July 15, 2016 (ECF No. 102), hereby ORDERS AND 

ADJUDGES as follows:

1. The Court incorporates herein by reference the Order Granting 

Final Approval of Settlement, Authorizing Service Award, and Granting 

Application For Attorneys’ Fees dated July 15, 2016 (“Final Approval 

Order”) in its entirety. (ECF No. 102).

2. Except as specifically modified by the Final Approval Order, all 

capitalized terms used herein shall have the meaning set forth in the 

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Settlement Agreement and Release between the Parties (“Agreement” or 

“Settlement”). (ECF No. 94-1).

3. This Court has personal jurisdiction over each and all of the 

Settlement Class Members because, among other things, they received the 

best practicable notice of the Settlement, which notice was reasonably 

calculated, under all the circumstances, to apprise interested parties of the 

pendency of the Action and the terms of the Settlement, and to afford them 

an opportunity to present their objections or to request exclusion from the 

Settlement. The Court also has jurisdiction over BancorpSouth Bank 

(“BancorpSouth”) and over the Plaintiff, both of whom have personally 

appeared in the Action pending before this Court. The Court has subject 

matter jurisdiction over the Action pursuant to 28 U.S.C. §§ 1332(d)(2) and 

(6).

4. For purposes of effectuating the Settlement, and in accordance 

with Federal Rules of Civil Procedure 23(a) and 23(b)(3), the Court certifies 

the Settlement Class defined as:

All Account Holders of a BancorpSouth Account who, during 

the Class Period applicable to the state in which the Account 

was opened, incurred one or more Overdraft Fees as a result of 

BancorpSouth’s High-to-Low Posting.1 Excluded from the Class 

 1 The Settlement Class consists solely of the 190,953 identifiable current and former 

BancorpSouth Account Holders identified based on the analysis set forth in the Expert 

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are all current BancorpSouth officers and directors, and the 

judge presiding over this Action.

Agreement ¶ 64.2

5. The Action, defined in the Settlement as Swift v. BancorpSouth 

Bank, N.D. Fla. Case No. 1:10-cv-90-GRJ, is hereby dismissed with 

prejudice, each side to bear its own fees and costs, except as otherwise 

provided in the Final Approval Order. 

6. Without modifying the scope of Section XIV of the Settlement, 

as of the Effective Date, Plaintiff and all Settlement Class Members (who 

did not timely opt-out of the Settlement), each on behalf of himself or 

herself and on behalf of his or her respective heirs, assigns, beneficiaries, 

and successors, shall automatically be deemed to have fully and 

irrevocably released and forever discharged BancorpSouth and each of its 

 

Report of Arthur Olsen dated November 8, 2012, as supplemented by the Supplemental 

Expert Report of Arthur Olsen dated August 28, 2014, excluding the 238 class members 

who previously exercised their right to opt out of the certified class.

2 “Class Period” means: (a) for Settlement Class Members who opened accounts in 

Louisiana, the period from May 18, 2003 through August 13, 2010; (b) for Settlement 

Class Members who opened accounts in Alabama or Tennessee, the period from May 

18, 2004 through August 13, 2010; (c) for Settlement Class Members who opened 

accounts in Arkansas, the period from May 18, 2005 through August 13, 2010; (d) for 

Settlement Class Members who opened accounts in Florida or Texas, the period from 

May 18, 2006 through August 13, 2010; and (e) for Settlement Class Members who 

opened accounts in Mississippi or Missouri, the period from May 18, 2007 through August 

13, 2010. Agreement ¶ 32.

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present and former parents, subsidiaries, divisions, affiliates, predecessors, 

successors and assigns, and the present and former directors, officers, 

employees, agents, insurers, shareholders, attorneys, advisors, 

consultants, representatives, partners, joint venturers, independent 

contractors, wholesalers, resellers, distributors, retailers, predecessors,

successors, and assigns of each of them, of and from any and all liabilities, 

rights, claims, actions, causes of action, demands, damages, costs, 

attorneys’ fees, losses, and remedies, whether known or unknown, existing 

or potential, suspected or unsuspected, liquidated or unliquidated, legal, 

statutory, or equitable, that result from, arise out of, are based upon, or 

relate to the conduct, omissions, duties or matters at any time from the 

beginning of the Class Period through the date an order preliminary

approving the Settlement Agreement is entered by the Court, that were or 

could possibly have been claimed, raised, or alleged in this Action to the 

extent they relate in any way to Overdraft Fees, or debit transaction 

sequencing or posting order, including, without limitation, any claims, 

actions, causes of action, demands, damages, losses, or remedies relating 

to, based upon, resulting from, or arising out of (a) the notation or 

assessment of one or multiple Overdraft Fees on Settlement Class 

Members’ Accounts, (b) the amount of one or more Overdraft Fees 

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assessed on Settlement Class Members’ Accounts, or (c) debit transaction 

sequencing or posting order on Settlement Class Members’ Accounts. The 

foregoing release includes any and all of the following to the extent they 

involve, result in, or seek recovery or relief for notation or assessment of 

Overdraft Fees or debit transaction sequencing or posting order: (1) the 

authorization, approval or handling of any Debit Card Transaction, (2) any 

failure to notify or to obtain advance approval when a Debit Card 

Transaction would or might cause Settlement Class Members’ Accounts to 

become overdrawn or further overdrawn or an Overdraft Fee to be noted or 

assessed, (3) any failure to allow Settlement Class Members to opt-out of 

overdrafts, or to publicize or disclose the ability of the holder of any 

BancorpSouth Account to opt-out of overdrafts, (4) any failure to 

adequately or clearly disclose, in one or more agreements, posting order, 

debit re-sequencing, overdrafts, Overdraft Fees, or the manner in which 

Debit Card Transactions are or would be approved, processed, noted, or 

posted to Settlement Class Members’ Accounts; (5) any conduct or 

statements encouraging the use of BancorpSouth Debit Cards, (6) the 

assessment of any Overdraft Fee, and (7) any advertisements relating to 

any of the foregoing.

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7. Those persons identified on the List of Exclusions attached 

hereto as Exhibit A are hereby excluded from the Settlement, shall not 

receive any distribution from the Settlement, and are not bound by this 

Judgment.

8. The Parties to the Settlement submit to, and this Court 

expressly reserves and retains, exclusive jurisdiction over the Action and 

the Parties, including BancorpSouth, Plaintiff, and all Settlement Class 

Members, to administer, implement, supervise, construe, enforce and 

perform the Settlement in accordance with its terms, and to enforce the 

Final Approval Order. Without limiting the foregoing, and by way of 

example only, the Court retains jurisdiction to adjudicate any suit, action, 

proceeding, or dispute arising out of the Settlement. The Court shall also 

retain jurisdiction over all questions and disputes related to the Notice 

Program, Settlement Administrator, the Notice Administrator and the Tax 

Administrator. 

9. Nothing in the Settlement, the Final Approval Order, or this 

Judgment shall be deemed to be an admission, or to constitute an 

adjudication by the Court, of the truth or falsity of any claims or defenses 

heretofore made, or an acknowledgment or admission by BancorpSouth or 

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any party of any fault, liability or wrongdoing of any kind whatsoever or of 

any violation of statute, regulation or law.

10. Plaintiff, all Settlement Class Members, and all Releasing 

Parties are hereby barred and enjoined from asserting any of the Released 

Claims and from pursuing any Released Claims against BancorpSouth (as 

provided in paragraphs 30 and 105 of the Agreement) at any time, 

including, but without limitation, during any appeals from the Final Approval 

Order and this Judgment. The Court shall retain jurisdiction over the 

enforcement of these injunctions.

DONE AND ORDERED at Gainesville, Florida, this 15th day of July, 

2016.

 

/Gary R. Jones 

GARY R. JONES

United States Magistrate Judge

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