A recent securities class action lawsuit has been filed against Lincoln National Corporation (NYSE: LNC). Investors who purchased or acquired the company’s securities between November 4, 2020, and November 2, 2022, have until June 24, 2024, to file lead plaintiff applications. The lawsuit alleges that Lincoln National and certain executives failed to disclose material information during this period, which violates federal securities laws.
In its 3Q 2022 financial results, released on November 2, 2022, Lincoln National disclosed a net loss of $2.6 billion for the quarter. This substantial loss was attributed to net unfavorable notable items and a goodwill impairment in the life insurance business. Following this announcement, Lincoln’s shares experienced a significant drop, falling by 33.2% to close at $34.83 per share on November 3, 2022.
If you are an investor who purchased securities of Lincoln National during the specified Class Period, you have the opportunity to discuss your legal rights and potential recovery for your economic loss. You can contact KSF Managing Partner Lewis Kahn for more information without any obligation or cost. As a lead plaintiff in this class action, you have the opportunity to petition the Court before June 24, 2024.
Kahn Swick & Foti, LLC (KSF) is a leading boutique securities litigation law firm with partners that include former Louisiana Attorney General Charles C. Foti, Jr. KSF represents a diverse range of clients, including institutional investors, hedge funds, money managers, and retail investors, in their pursuit of recoveries for investment losses caused by corporate fraud or malfeasance. With offices in multiple states across the United States, KSF provides top-notch legal representation to clients nationwide.
For more information about KSF and the securities lawsuit against Lincoln National Corporation, visit www.ksfcounsel.com. You can also contact KSF via phone or email using the provided details. Protect your rights as an investor and seek the recovery you deserve.
In addition to the information provided in the article about the securities class action lawsuit against Lincoln National Corporation, it is important to consider current market trends, provide forecasts, and identify key challenges or controversies associated with the subject.
Current market trends indicate increased scrutiny and legal actions against companies for potential violations of federal securities laws. With investors becoming more vigilant and regulatory authorities focusing on enforcing compliance, companies are facing stricter accountability for their financial disclosures and transparency practices.
Forecasts suggest that securities litigation is likely to continue as investors and regulatory bodies become more adept at identifying potential issues that may violate securities laws. This could lead to an increase in lawsuits similar to the case against Lincoln National Corporation.
One key challenge associated with this lawsuit is the burden of proof. The plaintiffs will need to demonstrate that Lincoln National and certain executives failed to disclose material information, and that this failure resulted in losses for investors. Proving materiality and causation can be complex and requires thorough analysis of financial data and relevant market trends.
Another potential controversy associated with this lawsuit is the impact on the reputation of Lincoln National Corporation. Public perception plays a crucial role in the success and stability of a company. Legal actions can sometimes erode investor confidence, potentially affecting the company’s market value and future business prospects.
Advantages of pursuing a class action lawsuit in this case include the opportunity for affected investors to seek potential recovery for their economic losses collectively. By joining forces, investors can pool their resources and leverage the expertise of legal firms specializing in securities litigation.
On the other hand, disadvantages of pursuing a class action lawsuit include the lengthy legal process, which can take years to resolve. Additionally, there is no guarantee of a favorable outcome, and the recovery amount for individual investors may vary based on several factors, such as the number of participants, the amount of damages claimed, and the allocation method used.
For more information about KSF and the securities lawsuit against Lincoln National Corporation, interested parties can visit the KSF website at www.ksfcounsel.com. It is important to note that this is a general overview, and individuals should seek professional legal advice to fully understand their rights and options as investors in this case.
Kahn Swick & Foti, LLC (KSF) is a leading boutique securities litigation law firm specializing in representing clients, including institutional investors, hedge funds, money managers, and retail investors, in their pursuit of recoveries for investment losses caused by corporate fraud or malfeasance. With offices in multiple states across the United States, KSF provides top-notch legal representation to clients nationwide.