Prudential Financial, Inc. Securities Litigation (2019)

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Lawsuit Overview

Defendant:Prudential Financial, Inc.
Date Filed:November 27th, 2019
Sector:Finance
Industry:Life Insurance

According to the Complaint, Prudential Financial, Inc. describes itself as a provider of a wide range of insurance, investment management, and other financial products and services.

The Complaint alleges that during the Class Period, Defendants made materially false and misleading statements and/or failed to disclose adverse information regarding Prudential's business and prospects. Specifically, the Complaint alleges that Defendants failed to disclose the following facts: (a) the Company's reserve assumptions failed to account for adversely developing mortality experience in its 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.

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First Identified Complaint

City of Warren Police and Fire Retirement System, et al. v. Prudential Financial, Inc., et al.

Date Filed:November 27th, 2019
Class Period Start:February 15th, 2019
Class Period End:August 2nd, 2019
First Identified Complaint Filings
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