Market Overview

Robbins Arroyo LLP: A Class Action Lawsuit Has Been Filed Against Suffolk Bancorp (SCNB)


Shareholder rights law firm Robbins Arroyo LLP announces that a class action lawsuit has been filed against Suffolk Bancorp (NYSE: SCNB) in the Supreme Court for the State of New York, County of Suffolk. The complaint is brought on behalf of shareholders of Suffolk for alleged breaches of fiduciary duties in connection with the acquisition of the company by People's United Financial, Inc. (the "Proposed Transaction"). The complaint alleges that Suffolk officials breached their fiduciary duties by: agreeing to the Proposed Transaction for grossly inadequate consideration; failing to maximize the value of Suffolk to its public stockholders; avoiding competitive bidding; and improperly putting their personal interests ahead of Suffolk's public stockholders. Suffolk operates as a bank holding company for Suffolk County National Bank, which provides commercial and retail banking services.

View this press release on the law firm's Shareholder Rights Blog:

Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003,, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.

Robbins Arroyo LLP
Darnell R. Donahue
(619) 525-3990 or Toll Free (800) 350-6003

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at