A securities class action has been filed in the USDC — E.D.PA. against Lincoln National Corporation (LNC) (“Lincoln National” or the “Company”), on behalf of all persons or entities who purchased or otherwise acquired Lincoln National securities between February 18, 2022 and April 1, 2024, both dates inclusive (the “Class Period”).
Lincoln National is a holding company which operates multiple insurance and retirement businesses through subsidiary companies. The Company provides products and services and reports results through four segments: Annuities, Life Insurance, Group Protection, and Retirement Plan Services. Through its business segments, the Company sells a range of wealth accumulation, wealth protection, group protection and retirement income products and solutions. “Lincoln Financial Group” is the marketing name for Lincoln National and its subsidiary companies.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors:
(1) that the Company was experiencing a decline in its VUL business;
(2) that, as a result, the goodwill associated with the life insurance business was overstated;
(3) that, as a result, the Company’s policy lapse assumptions were outdated;
(4) that, as a result, the Company’s reserves were overstated;
(5) that, as a result, the Company’s reported financial results and financial statements were misstated; and
(6) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, thereby harming investors.
If you purchased Lincoln National securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.
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