LINCOLN NATIONAL 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 Lawsu...

25.05.24 04:45 Uhr

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NEW ORLEANS, May 24, 2024 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilJune 24, 2024 to file lead plaintiff applications in a securities class action lawsuit against Lincoln National Corporation (NYSE: LNC), if they purchased or otherwise acquired the Company's securities between November 4, 2020 and November 2, 2022, inclusive (the "Class Period").  This action is pending in the United States District Court for the Eastern District of Pennsylvania.

KSF (PRNewsfoto/Kahn Swick & Foti, LLC)

What You May Do

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 visit https://www.ksfcounsel.com/cases/nyse-lnc/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 24, 2024.

About the Lawsuit

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.

The case is Meade v. Lincoln National Corporation, et al., No. 24-cv-01704.

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, Delaware, California, Louisiana and New Jersey.

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

Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

 

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SOURCE Kahn Swick & Foti, LLC

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Nachrichten zu Lincoln National Corp.

Analysen zu Lincoln National Corp.

DatumRatingAnalyst
11.05.2018Lincoln National OverweightBarclays Capital
02.01.2018Lincoln National BuyDeutsche Bank AG
04.08.2017Lincoln National OutperformRBC Capital Markets
03.02.2017Lincoln National OutperformRBC Capital Markets
09.12.2016Lincoln National OutperformRBC Capital Markets
DatumRatingAnalyst
11.05.2018Lincoln National OverweightBarclays Capital
02.01.2018Lincoln National BuyDeutsche Bank AG
04.08.2017Lincoln National OutperformRBC Capital Markets
03.02.2017Lincoln National OutperformRBC Capital Markets
09.12.2016Lincoln National OutperformRBC Capital Markets
DatumRatingAnalyst
28.11.2016Lincoln National Mkt PerformFBR & Co.
09.11.2016Lincoln National Mkt PerformFBR & Co.
29.10.2015Lincoln National Sector PerformRBC Capital Markets
03.11.2014Lincoln National HoldDeutsche Bank AG
18.01.2012Lincoln National sector performRBC Capital Markets
DatumRatingAnalyst
02.04.2009Lincoln National sellCitigroup Corp.

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