Suffolk Bancorp is a one-bank holding company that provides commercial banking and financial services in Suffolk County, New York.

According to the Complaint, on June 26, 2016, Suffolk’s Board of Directors (the “Board” or “Individual Defendants”) caused the Company to enter into an agreement and plan of merger, pursuant to which public stockholders of Suffolk will receive 2.225 shares of People’s United common stock for each share of Suffolk common stock they own.

The Complaint alleges on July 22, 2016, Defendants issued materially incomplete and misleading disclosures in the Form S-4 Registration Statement filed with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Registration Statement is deficient and misleading in that it fails to provide adequate disclosure of all material information related to the Proposed Transaction.

This case was voluntarily dismissed on October 7, 2016 as a result of a settlement being reached in a related state action in the Supreme Court of the State of New York, docketed under 609834/2016.