Robbins LLP, a trusted law firm specializing in shareholder rights litigation, is currently investigating allegations of misleading claims made by Lincoln National Corporation (LNC) regarding its VUL (Variable Universal Life) business. The class action lawsuit, filed on behalf of investors who purchased or acquired LNC securities between November 4, 2020, and November 2, 2022, alleges that the company failed to disclose crucial information that led to misstated financial results and statements.
The complaint asserts that Lincoln National Corporation did not disclose the decline in its VUL business, leading to an overstatement of goodwill associated with the life insurance business. It further claims that outdated policy lapse assumptions resulted in overestimated reserves. When the truth was revealed in the company’s third-quarter financial results for 2022, the stock price of Lincoln National plummeted by 33%.
Investors who have suffered losses due to these alleged misleading claims can potentially participate in the class action against Lincoln National Corporation. To become the lead plaintiff, shareholders must file their motions with the court by June 18, 2024. The lead plaintiff serves as a representative party for other class members, directing the litigation. However, shareholders are not required to participate in the case to be eligible for recovery.
Robbins LLP, known for its successful recoveries and commitment to holding corporate executives accountable, operates on a contingency fee basis. This means that shareholders will not be responsible for any fees or expenses throughout the litigation process. Since its establishment in 2002, Robbins LLP has obtained over $1 billion for shareholders.
To stay updated on the progress of the class action against Lincoln National Corporation or to receive free alerts regarding corporate wrongdoing, individuals can sign up for Stock Watch, a service provided by Robbins LLP.
Please note that this article is for informational purposes only and does not guarantee a similar outcome.
In addition to the information provided in the article, there are a few key facts and details that can be discussed regarding the subject of the investigation against Lincoln National Corporation:
1. Current Market Trends:
Despite the recent decline in Lincoln National Corporation’s stock price following the disclosure of the alleged misleading claims, the variable universal life (VUL) insurance market has been experiencing growth in recent years. VUL policies offer policyholders more flexibility and potential for growth by allowing them to invest a portion of their premiums into various investment options. This has attracted investors who are seeking both life insurance coverage and an opportunity for potential investment returns.
2. Forecasts:
Forecasts for the VUL market suggest continued growth, as they are seen as a valuable financial product for individuals looking for a combination of life insurance protection and investment opportunities. The ability to allocate premium payments towards investments gives policyholders the potential for higher returns and increased cash value accumulation.
3. Challenges or Controversies:
The allegations of misleading claims against Lincoln National Corporation raise concerns about the transparency and accuracy of the company’s financial statements. If proven true, such actions could damage the reputation of the company and lead to legal and financial consequences. Shareholders affected by these alleged misleading claims may face challenges in recovering their losses and regaining confidence in the company.
It is important to note that the information provided above is based on general market trends and assumptions and may not specifically reflect the current situation or prospects for Lincoln National Corporation or the VUL insurance market.
For more information on the investigation or to stay updated on any developments related to the class action against Lincoln National Corporation, individuals can sign up for Stock Watch, a service provided by Robbins LLP, the law firm conducting the investigation.
Advantages:
– Robbins LLP has a track record of successful recoveries and is committed to holding corporate executives accountable.
– Shareholders do not have to bear any fees or expenses as Robbins LLP operates on a contingency fee basis.
– Signing up for Stock Watch allows individuals to receive free alerts regarding corporate wrongdoing, enabling them to stay informed about potential investment risks.
Disadvantages:
– The outcome of the investigation and the subsequent class action against Lincoln National Corporation is uncertain, and there is no guarantee of a favorable outcome for the shareholders.
– Shareholders who choose to participate in the class action may face a lengthy legal process, which could potentially delay the resolution and recovery of their losses.
To stay updated on the progress of the class action or to receive alerts regarding corporate wrongdoing, individuals can sign up for Stock Watch by visiting Robbins LLP.
Please note that the information provided here is for informational purposes only and should not be considered as financial or legal advice. It is always recommended to consult with a qualified professional before making any investment decisions.