Investigating the Officers and Directors of FSB Bancorp, Inc. (FSBC) on Behalf of Shareholders
Shareholder rights law firm Robbins LLP is investigating whether certain officers and directors of FSB Bancorp, Inc. (FSBC) breached their fiduciary duties to shareholders. FSB disclosed on July 25, 2018 that the company’s audited consolidated financial statements for the years ended December 31, 2017 and 2016 and the interim unaudited consolidated financial statements for the three months ended March 31, 2018 and 2017, for the three and six months ended June 30, 2017 and for the three and nine months ended September 30, 2017 cannot be relied upon because of an error. In particular, the company incorrectly claimed a tax credit for residential mortgages on property located in Erie County. As a result, FSB will restate certain of its financial statements.