Recent Security Class Actions

Prudential Financial Inc. Common Stock (NYSE: PRU)

Company Name:Prudential Financial Inc. Common Stock
Stock Symbol:NYSE: PRU
Class Period Start:06/05/2019
Class Period End (inclusive):08/02/2019
Filing Deadline:01/26/2020

According to the Complaint, Prudential Financial, Inc. describes itself as a provider of a wide range of insurance, investment management, and other financial products and services.

The Complaint alleges that during the Class Period, Defendants made materially false and misleading statements and/or failed to disclose adverse information regarding Prudential's business and prospects. Specifically, the Complaint alleges that Defendants failed to disclose the following facts: (a) the Company's reserve assumptions failed to account for adversely developing mortality experience in its Individual Life business segment; (b) the Company was not over-reserved, but instead, its reported reserves, particularly for the Individual Life business segment, were insufficient to satisfy its future policy benefits liabilities; and (c) the Company had materially understated its liabilities and overstated net income as a result of flawed assumptions in calculating mortality experience.