Attorneys for Smithtown Bancorp, the company that owns Bank of Smithtown, executed a nifty maneuver Wednesday night that resulted in witnesses not having to comply with subpoenas right away.

The bank has been sued by Brooklyn developer Robert Toussie, among others. He's seeking $110 million, claiming the company engaged in fraud to disguise its poor financial health and misled investors into thinking the bank was healthy. In support of the suit, he subpoenaed officials at Manhattan investment bank Sandler O'Neill and Standard Valuation Services of Mineola, a real estate appraisal company.

Toussie's suit notes that Sandler O'Neill continued to recommend Smithtown stock, even as its price plummeted and as Sandler O'Neill eventually dumped its own stake in the company. Sandler O'Neill has declined to comment, as has the bank.

advertisement | advertise on newsday

The subpoenas were due Thursday, but Wednesday night the bank's attorneys moved the case from state court in Brooklyn to federal court, said Toussie attorney Scott Balber of Manhattan. He said the move was designed to avoid complying with the subpoenas, and added that he'll seek to move the suit back to state court -- and seek legal fees from Smithtown for "frivolous" conduct.