AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

PRUDENTIAL FINANCIAL SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Prudential Financial, Inc. - PRU

December 4, 2019

NEW ORLEANS--(BUSINESS WIRE)--Dec 3, 2019--

Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 27, 2020 to file lead plaintiff applications in a securities class action lawsuit against Prudential Financial, Inc. (NYSE: PRU), if they purchased the Company’s shares between February 15, 2019 and August 2, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of New Jersey.

What You May Do

If you purchased shares of Prudential and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ( lewis.kahn@ksfcounsel.com ), or visit https://www.ksfcounsel.com/cases/nyse-pru/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 27, 2020.

About the Lawsuit

Prudential and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the assumptions used by the Company in establishing reserves failed to account for adversely developing mortality experience in its Individual Life business segment; (ii) the Company’s reserves were inadequate to satisfy its future policy benefits liabilities; (iii) the Company had materially understated its liabilities and overstated net income as a result of flawed assumptions in calculating mortality experience; and (iv) as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.

The case is City of Warren Police And Fire Retirement System v. Prudential Financial, Inc. et al., 19-cv-20839.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191203006109/en/

CONTACT: Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner

lewis.kahn@ksfcounsel.com

1-877-515-1850

1100 Poydras St., Suite 3200

New Orleans, LA 70163

KEYWORD: UNITED STATES NORTH AMERICA LOUISIANA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Kahn Swick & Foti

Copyright Business Wire 2019.

PUB: 12/03/2019 07:30 PM/DISC: 12/03/2019 07:30 PM

http://www.businesswire.com/news/home/20191203006109/en