On or around 08/12/2019 (Ongoing date of last review)
Filing Date: February 05, 2018
MetLife provides life insurance, annuities, employee benefits, and asset management products in the United States and internationally.
According to the law firm press release, the Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) MetLife’s practices and procedures used to estimate its reserves set aside for annuity and pension payments were inadequate; (2) MetLife had inadequate internal controls over financial reporting; and (3) as a result, Defendants’ statements about MetLife’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On September 19, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on December 18. On January 8, 2019, Lead Plaintiff filed a second amended Complaint. On February 6, Lead Plaintiff filed a third amended Complaint. Lead Plaintiff filed a fourth amended Complaint on July 22.
Company & Securities Information
Defendant: MetLife, Inc.
Industry: Insurance (Life)
Headquarters: United States
Ticker Symbol: MET
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Christopher Parchmann, et al. v. MetLife, Inc., et al.