LOS ANGELES–(BUSINESS WIRE)–$PRU #PRU—The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Prudential Financial, Inc. (“Prudential” or “the Company”) (NYSE: PRU) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between February 15, 2019 and August 2, 2019, inclusive (the ”Class Period”), are encouraged to contact the firm before January 27, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Prudential failed to account for worsening mortality experience in its individual life business segment when making its reserve assumptions. Far from being over-reserved, the Company did not have sufficient reserves to pay future policy benefits. The Company overstated net income on the basis of flawed assumptions and calculations. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Prudential, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.