ClaimsFiler, a renowned shareholder information service, is urging investors to take action before June 24, 2024, by filing lead plaintiff applications in a securities class action lawsuit against Lincoln National Corporation (NYSE: LNC). This lawsuit pertains to individuals who purchased or acquired the company’s securities between November 4, 2020, and November 2, 2022. The case is currently pending in the United States District Court for the Eastern District of Pennsylvania.
Investors who have been affected by the alleged wrongdoing committed by Lincoln National are encouraged to visit the ClaimsFiler website at https://claimsfiler.com/cases/nyse-lnc/ or call their toll-free number at (844) 367-9658. Skilled lawyers from Kahn Swick & Foti, LLC are also available to provide guidance on legal options.
The lawsuit against Lincoln National alleges that the company and certain executives failed to disclose material information during the specified Class Period, thereby violating federal securities laws. Specifically, on November 2, 2022, the company revealed its 3Q 2022 financial results after the market closed. These results disclosed a significant net loss of $2.6 billion for the quarter, as compared to a net income of $318 million in the previous year’s third quarter. The loss was attributed to unfavorable notable items, as well as a substantial goodwill impairment to the life insurance business.
Following this announcement, Lincoln National’s shares experienced a sharp decline of $17.27, amounting to a 33.2% decrease, and closed at $34.83 per share on November 3, 2022. This drop in stock price occurred alongside unusually high trading volume, further emphasizing the impact of the news on investor sentiment.
The case against Lincoln National, titled Meade v. Lincoln National Corporation, et al., has been filed with the United States District Court for the Eastern District of Pennsylvania under docket number 24-cv-01704.
ClaimsFiler, with its unwavering commitment to retail investors, aims to be the go-to source of information and support in recovering their fair share of billions of dollars from securities class action settlements. Through their website, investors can register for free, gaining access to vital information and settlement websites for various securities class action cases, enabling them to submit their claims within the designated timelines. Additionally, investors can upload their portfolio transactional data to receive notifications about relevant securities cases that might impact their financial interests. For a comprehensive evaluation of potential cases, individuals can also reach out to the Kahn Swick & Foti, LLC law firm, which provides free case evaluations.
For more information about ClaimsFiler and its mission, please visit their website at www.claimsfiler.com.
SOURCE: ClaimsFiler
ClaimsFiler, a shareholder information service, is currently urging investors to take action by filing lead plaintiff applications in a securities class action lawsuit against Lincoln National Corporation (NYSE: LNC). This lawsuit pertains to investors who bought or acquired the company’s securities between November 4, 2020, and November 2, 2022, with the case pending in the United States District Court for the Eastern District of Pennsylvania.
The lawsuit against Lincoln National alleges that the company and certain executives failed to disclose material information during the specified Class Period, which would constitute a violation of federal securities laws. The company’s 3Q 2022 financial results, released on November 2, 2022, after the market closed, revealed a substantial net loss of $2.6 billion for the quarter, in comparison to a net income of $318 million in the previous year’s third quarter. This loss was attributed to unfavorable notable items and a significant goodwill impairment to the life insurance business.
As a result of this announcement, Lincoln National’s shares experienced a sharp decline, dropping by $17.27 or 33.2%, closing at $34.83 per share on November 3, 2022. The decrease in stock price was accompanied by unusually high trading volume, indicating the impact of the news on investor sentiment.
Investors affected by the alleged wrongdoing of Lincoln National are encouraged to visit the ClaimsFiler website or call their toll-free number to learn more about their legal options and how they can participate in the securities class action lawsuit.
Market Trends and Forecasts:
In the broader securities litigation landscape, there is a growing trend of increased shareholder activism and awareness, leading to more class action lawsuits being filed against companies. As investors become more vigilant about protecting their rights and holding companies accountable for any potential wrongdoing, securities class action settlements have been on the rise, resulting in billions of dollars being distributed to affected investors.
Key Challenges and Controversies:
One key challenge associated with securities class action lawsuits is the lengthy and complex legal process involved. It can take several years for a case to reach a conclusion, and the outcome is not always guaranteed. Additionally, defendants often contest the allegations, leading to prolonged litigation and potential uncertainties for investors involved in the lawsuit.
Advantages of ClaimsFiler:
ClaimsFiler offers several advantages to investors seeking to recover their fair share of securities class action settlements. By providing a user-friendly platform, investors can easily register for free and gain access to essential information and settlement websites for various securities cases. This enables them to submit their claims within designated timelines, increasing their chances of receiving compensation. Furthermore, ClaimsFiler allows investors to upload their portfolio transactional data, receiving notifications about relevant securities cases that may impact their financial interests, ensuring they stay informed and don’t miss out on potential recovery opportunities.
Disadvantages of ClaimsFiler:
One potential disadvantage of ClaimsFiler is that it primarily focuses on securities class action settlements and may not cover other types of investor losses or legal issues. Investors who require assistance with matters outside the scope of securities class actions may need to seek additional resources or legal guidance.
For more information about ClaimsFiler and its mission to help investors recover their fair share of securities class action settlements, please visit their website.
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