MetLife, Inc. 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. Defendants filed a Motion to Dismiss the fourth amended Complaint on August 12.

On January 11, 2021, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice. Lead Plaintiffs filed a notice appealing the Court's Dismissal Order on February 9, 2021. On March 10, 2022, the Court of Appeals affirmed the District Court's Dismissal Order.