On or around 11/27/2019 (Date of last review)
Filing Date: November 27, 2019
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.
Company & Securities Information
Defendant: Prudential Financial, Inc.
Industry: Insurance (Life)
Headquarters: United States
Ticker Symbol: PRU
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
City of Warren Police and Fire Retirement System, et al. v. Prudential Financial, Inc., et al.