NEW YORK, April 25, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Lincoln National Corporation (“Lincoln National” or the “Company”) (NYSE: LNC).   Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether Lincoln National and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until June 24, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Lincoln National securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]    

On November 2, 2022, after the market closed, Lincoln National released its third quarter 2022 financial results, reporting a net loss of $2.6 billion for the quarter. This was compared to a net income of $318 million for the third quarter of 2021 the previous year. Lincoln National stated that “[t]he current quarter’s adjusted operating results included 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.” The Company also disclosed that it “incurred a $634 million goodwill impairment to the life insurance business.”

On this news, Lincoln National’s stock price fell $17.27 per share, or 33.2%, to close at $34.83 per share on November 3, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.   

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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980