Kahn Swick & Foti LLC Reminds Investors of Upcoming Deadline in Securities Class Action Lawsuit Against Lincoln National Corporation

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New Orleans-based law firm Kahn Swick & Foti LLC is reminding investors that they have until June 24, 2024, to file lead plaintiff applications in a securities class action lawsuit against Lincoln National Corporation (NYSE: LNC). The lawsuit alleges that the company and certain executives failed to disclose material information during the period between November 4, 2020, and November 2, 2022, violating federal securities laws.

According to the complaint, on November 2, 2022, Lincoln National Corporation released its 3Q 2022 financial results, revealing a net loss of $2.6 billion for the quarter. This significant loss, compared to a net income of $318 million for the same quarter the previous year, was attributed to notable items and a goodwill impairment to the life insurance business. The announcement led to a sharp decline in the company’s stock price, dropping by 33.2% on November 3, 2022.

Investors who purchased securities of Lincoln National Corporation during the aforementioned period and suffered financial losses may be eligible to participate in the class action lawsuit. To serve as a lead plaintiff, interested parties must petition the Court by the June 24, 2024 deadline.

Kahn Swick & Foti LLC, led by Managing Partner Lewis Kahn, specializes in securities litigation and aims to assist clients in recovering investment losses resulting from corporate fraud or malfeasance. The firm represents a diverse range of clients, including public institutional investors, hedge funds, money managers, and retail investors.

For more information on the Lincoln National Corporation securities class action lawsuit and to learn about your legal rights as an investor, you can contact Kahn Swick & Foti LLC toll-free at 1-877-515-1850 or via email at [email protected]. Additional details can also be found on the firm’s website at www.ksfcounsel.com.

Investors are encouraged to take timely action if they wish to participate in the lawsuit and seek potential compensation for their economic losses.

In addition to the information provided in the article, here are some facts and insights related to the subject:

Current Market Trends:
1. The life insurance industry has been facing challenges due to low interest rates, regulatory changes, and increased competition. Companies like Lincoln National Corporation have been impacted by market dynamics and economic conditions.

Forecasts:
1. Financial analysts have projected a potential recovery in the life insurance sector as the economy stabilizes and interest rates begin to rise. This could positively impact companies like Lincoln National Corporation in the future.
2. The outcome of the securities class action lawsuit against Lincoln National Corporation could have implications for the company’s stock performance and investor sentiment in the coming months.

Key Challenges or Controversies:
1. The alleged failure to disclose material information by the company and its executives during the specified period raises concerns about transparency and corporate governance.
2. The net loss of $2.6 billion reported by Lincoln National Corporation for the third quarter of 2022 and the subsequent decline in stock price highlight the financial challenges faced by the company.

Advantages:
1. Participating in the securities class action lawsuit could potentially allow eligible investors to seek compensation for their financial losses.
2. Kahn Swick & Foti LLC, the New Orleans-based law firm leading the lawsuit, specializes in securities litigation and has experience in helping clients recover investment losses resulting from corporate wrongdoing.

Disadvantages:
1. The outcome of the lawsuit may not guarantee a favorable outcome for all investors involved, and the litigation process can be lengthy and complex.
2. There is no assurance that participating in the lawsuit will lead to full recovery of investment losses, as it ultimately depends on various factors and the decisions of the court.

Suggested Related Links:
1. Securities and Exchange Commission: The official website of the U.S. regulatory body that oversees securities transactions, offering information on regulations and investor protection.
2. NASDAQ: A leading stock exchange website providing market data, news, and insights into various securities, including Lincoln National Corporation.

Please note that the URLs provided are examples and may need to be modified to represent actual valid links to the main domains mentioned.