The Shuman Law Firm Announces Class Action Lawsuit Against Suffolk Bancorp

BOULDER, CO October 28, 2011 –The Shuman Law Firm today announced that a lawsuit seeking class action status has been filed in the U.S. 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").

If you wish to discuss this action or have any questions concerning this notice or your rights and interests with respect to this matter, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.

The Complaint alleges that Suffolk and certain of its officers and directors violated federal securities laws by failing 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 Company’s 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 purchased Suffolk common stock during the Class Period, you may request that the Court appoint you as lead plaintiff of the class no later than December 19, 2011. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation.

The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.