{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-013434","form_type":"8-K/A","ticker":"CBU","cik":"0000723188","company_name":"COMMUNITY FINANCIAL SYSTEM, INC.","filed_at":"2024-02-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.756178+00:00","generated_at":"2026-06-06T05:03:01.757342+00:00","sec_items":["2.02"],"event_type":"litigation","sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"CBU records $5.8M wage litigation accrual; cuts Q4 2023 EPS by $0.08","bullets":["Settlement agreed on Feb 5, 2024 for threatened class action under FLSA and state labor laws.","Litigation accrual of $5.8M reduces Q4 2023 net income to $33.7M and diluted EPS to $0.63.","Full-year 2023 net income cut to $131.9M; diluted EPS reduced to $2.45 from $2.54.","Settlement subject to documentation and court approval; no further accruals expected."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-013434","json":"https://secwatch.observer/filing/0001104659-24-013434.json","markdown":"https://secwatch.observer/filing/0001104659-24-013434.md","text":"https://secwatch.observer/filing/0001104659-24-013434.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/723188/000110465924013434/0001104659-24-013434-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/723188/000110465924013434/tm245711d1_8ka.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T05:03:01.757342+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0f0c35db685c28297961cb482dae9c95dbe8ce1a","claim":"COMMUNITY FINANCIAL SYSTEM, INC. reported the fiscal year and fourth quarter ended December 31, 2023 results: net income $33.7 million and $131.9 million for the fourth quarter of 2023 and full year 2023, respectively, EPS $0.63 and $2.45 for the fourth quarter of 2023 and full year 2023, respectively.","evidence_excerpt":"On January 23, 2024, the Company announced financial results for the fiscal year and fourth quarter ended December 31, 2023.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723188/000110465924013434/0001104659-24-013434-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fiscal year and fourth quarter ended December 31, 2023"},{"label":"Net income","value":"$33.7 million and $131.9 million for the fourth quarter of 2023 and full year 2023, respectively"},{"label":"EPS","value":"$0.63 and $2.45 for the fourth quarter of 2023 and full year 2023, respectively"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}