Levi & Korsinsky is investigating potential claims against Suffolk Bancorp (“Suffolk Bancorp” or the “Company”) (NASDAQ: SUBK) concerning whether the Company and certain of its officers and directors have violated federal securities laws. The investigation centers on certain statements issued by the Company between October 15, 2010 and August 12, 2011.
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On May 11, 2011, Suffolk Bancorp announced it would be unable to file its Form 10-Q on time, citing “possible deficiencies” in the Company’s internal controls. On August 10, 2011, the audit committee concluded that the financial statements for the year ending December 31, 2010, and the quarters ending September 30, 2010 and December 31, 2010, could no longer be relied upon due to an understatement of their allowances for loan losses.
If you own shares of Suffolk Bancorp stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com.Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.