Notice to All Smithtown Bancorp Investors from the Securities Law Firm of Tramont Guerra & Nunez, PA

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A securities arbitration claim may allow investors to claim larger losses in Smithtown Bancorp stock based on higher market values that prevailed prior to the class period.

Defendants disseminated or approved the materially false and misleading statements specified above, which they knew or deliberately disregarded were misleading in that they contained misrepresentations and failed to disclose material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading.

The Securities Law Firm of Tramont Guerra & Núñez, PA (TGN) makes an announcement to all Smithtown Bancorp investors concerning the class action lawsuit (Case No. 10 CV 01405) filed February 25, 2010, in the United States District Court, Eastern District of New York, for the class period starting March 13, 2008 and ending February 1, 2010. The class action filed alleges that during the class period, “Defendants disseminated or approved the materially false and misleading statements specified above, which they knew or deliberately disregarded were misleading in that they contained misrepresentations and failed to disclose material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading.” Prospective class members should consider whether an individual securities arbitration claim filed with the Financial Industry Regulatory Authority, (FINRA) is more effective than a class action for recovery of their investment losses.

Many investors were advised by their financial advisors that Smithtown Bancorp stock was a suitable investment. Brokerage firms are obligated to give, and investors are entitled to rely upon brokerage firms for, competent, suitable investment advice in accordance with FINRA Sales Practice Rules and Regulations. The Financial Industry Regulatory Authority, (FINRA) is a self regulating organization with sales practice rules and regulations that govern the securities industry’s conduct and safeguard the investing public. Recommendations of unsuitable investments and/or maintaining unprotected concentrated stock positions are both causes of action that may be available to investors against their full-service brokerage firm in an individual securities arbitration claim filed with FINRA. Furthermore, an individual securities arbitration claim may allow investors to claim larger losses in Smithtown Bancorp stock based on higher market values that prevailed prior to the class period.

The Securities Law Firm of Tramont Guerra & Núñez, PA is a nationally recognized, Martindale Hubbell “AV” rated securities law firm. To request a confidential consultation from a TGN attorney to determine whether you have a viable individual securities arbitration claim for investment losses that exceed $100,000 from a full service brokerage account, contact us on our website. To speak directly with an attorney, call (888) 834-2171 and ask for Ben Fernandez, Esquire.

Destination URL http://www.stockmarketlosslawyer.com/press-releases/class-action-lawsuits-smithtown.htm

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Ben Fernandez
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