Security Investigation
Lincoln National Corporation (NYSE: LNC)
50 Days left to seek lead plaintiff status.
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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind 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).
Lincoln National and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 2, 2022, post-market, the Company released its 3Q 2022 financial results, disclosing a net loss of $2.6 billion for the quarter, compared to a net income of $318 million for the third quarter of 2021 the previous year, due to “net unfavorable notable items of $2.0 billion, or $11.62 per share, related to the company’s annual review of DAC and reserve assumptions,” and that the Company “incurred a $634 million goodwill impairment to the life insurance business.”
On this news, the price of Lincoln’s shares fell by $17.27, or 33.2%, to close at $34.83 per share on November 3, 2022, on unusually heavy trading volume.
If you purchased securities of Lincoln National 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 fill out the form on this page.
The case is Meade v. Lincoln National Corporation, et al., No. 24-cv-01704.