Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the District of New Jersey on behalf of shareholders of Prudential Financial, Inc. who purchased shares between February 15, 2019 and August 2, 2019.
Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the assumptions used by the Company in establishing reserves failed to account for adversely developing mortality experience in its Individual Life business segment; (ii) the Company’s reserves were inadequate to satisfy its future policy benefits liabilities; (iii) the Company had materially understated its liabilities and overstated net income as a result of flawed assumptions in calculating mortality experience; and (iv) as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until January 27, 2020 to request that the court appoint them lead plaintiff.