Holzer Holzer & Fistel, LLC Announces That It Has Filed a Class Action Lawsuit on Behalf of Investors in Suffolk Bancorp
(firmenpresse) - ATLANTA, GA -- (Marketwire) -- 10/25/11 -- Holzer Holzer & Fistel, LLC announces that it has filed a class action lawsuit in the United States District Court for the Eastern District of New York on behalf of purchasers of Suffolk Bancorp ("Suffolk" or the "Company") (NASDAQ: SUBK) common stock who purchased shares between March 12, 2010 and August 10, 2011, inclusive (the "Class Period"). The lawsuit alleges that: (i) that the Company's financial results were artificially inflated due to the material understatement of Suffolk's loan loss reserves; (ii) that the Company's financial results were artificially inflated due to a failure to recognize its impaired assets; (iii) that the Company's internal and disclosure controls were materially deficient; and (iv) that, based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company, its prospects and growth.
If you purchased Suffolk common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than December 19, 2011. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are a Suffolk investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at , or , or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, and upon request from the firm.
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Datum: 25.10.2011 - 12:26 Uhr
Sprache: Deutsch
News-ID 1049734
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