LINCOLN NATIONAL SHAREHOLDER ALERT FROM FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES OVER $100,000 OF LEAD PLAINTIFF DEADLINE IN CLASS ACTION AGAINST LINCOLN NATIONAL CORPORATION – LNC

NEW ORLEANS, May 24, 2024 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they have until 24 June 2024 to file lead plaintiff motions in a class action lawsuit against Lincoln National Corporation (NYSE: LNC) if they purchased or otherwise acquired the Company’s securities between November 4, 2020 and November 2, 2022, inclusive (the “Class Period”). This action is pending in the U.S. District Court for the Eastern District of Pennsylvania.

What you can do

If you purchased Lincoln National securities and would like to discuss your legal rights, how this case affects you and your right to recover your economic loss, you may contact KSF Managing Partner Lewis Kahn, without obligation and at no cost, toll-free at 1-877-515-1850 or by email ([email protected]) or visit https://www.ksfcounsel.com/cases/nyse-lnc/ to learn more. If you wish to serve as lead plaintiff in this class action, you must move the Court by 24 June 2024.

About the lawsuit

Lincoln National and certain of its executives are accused of failing to disclose material information during the Class Period, thereby violating federal securities laws.

On November 2, 2022, the Company released its third quarter 2022 financial results after the market closed, reporting a net loss of $2.6 billion for the quarter, compared to net income of $318 million in the third quarter of 2021 of the prior year. This was due to “net unfavorable items of $2.0 billion, or $11.62 per share, related to the Company’s annual review of the Company’s DAC and reserve assumptions” and that the Company “recorded a $634 million goodwill impairment charge in the Life Insurance business.”

On this news, Lincoln stock price fell $17.27, or 33.2%, to close at $34.83 per share on November 3, 2022, amid unusually high trading volume.

The case is Meade v. Lincoln National Corporation et al., No. 24-cv-01704.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading boutique securities litigation firms. KSF serves a wide range of clients – including public institutional investors, hedge funds, asset managers and individual investors – in recovering investment losses resulting from corporate fraud or abuse of authority by publicly traded companies. KSF maintains offices in New York, Delaware, California, Louisiana and New Jersey.

To learn more about KSF, visit www.ksfcounsel.com.

Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

View original content to download multimedia: https://www.prnewswire.com/news-releases/lincoln-national-shareholder-alert-by-former-louisiana-attorney-general-kahn-swick–foti-llc-reminds-investors-with-losses-in-excess-of-100-000-of-lead-plaintiff-deadline-in-class-action-lawsuit-against-lincoln-national-corpor-302155453.html

Never miss a story from Kahn Swick & Foti, LLC again.