The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of investors who purchased Prudential Financial, Inc. (NYSE: PRU) securities between February 15, 2019 and August 2, 2019.
According to the Prudential lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (a) the Company’s reserve assumptions failed to account for adversely developing mortality experience in the Individual Life business segment; (b) the Company was not over-reserved, but instead, its reported reserves, particularly for the Individual Life business segment, were insufficient to satisfy its future policy benefits liabilities; and (c) the Company had materially understated its liabilities and overstated net income as a result of flawed assumptions in calculating mortality experience.
If you suffered a loss in Prudential you have until January 27, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn\'t require that you serve as a lead plaintiff.
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