WEST HARTFORD, CT--(Marketwire - Oct 20, 2011) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Eastern District of New York on behalf of purchasers of the common stock of Suffolk Bancorp ("Suffolk" or the "Company") (NASDAQ: [ SUBK ]) between March 12, 2010 and August 10, 2011 (the "Class Period").

The Complaint charges that Suffolk and certain of its officers and directors violated federal securities laws. Specifically, the Complaint alleges that defendants failed to disclose the following: (i) Suffolk's financial results were artificially inflated due to the material understatement of Suffolk's loan loss reserves; (ii) Suffolk's financial results were artificially inflated due to a failure to recognize its impaired assets; (iii) Suffolk's internal and disclosure controls were materially deficient; and (iv) defendants lacked a reasonable basis for their positive statements about Suffolk.

On August 10, 2011, Suffolk announced its inability to file its quarterly results with the SEC on Form 10-Q. In addition, the Audit Committee concluded that Suffolk's previously issued financial statements as of and for the year ended December 31, 2010, the quarter ended December 31, 2010 and the quarter ended September 30, 2010, as reported in Suffolk's Annual Report on Form 10-K and Quarterly Report on Form 10-Q, respectively, should no longer be relied upon. On this news, Suffolk stock fell over 11.3%, closing at $9.16 per share.

If you are a member of the class, you may, no later than December 19, 2011, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: [ www.izardnobel.com/suffolkbancorp/ ], or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: [ firm@izardnobel.com ]. For more information about class action cases in general, please visit our website: [ www.izardnobel.com ].