NEW ORLEANS, March 23, 2018 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 6, 2018 to file lead plaintiff applications in a securities class action lawsuit against MetLife, Inc. (NYSE:MET), if they purchased the Company’s securities between February 27, 2013 and January 29, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of New York.
What You May Do
If you purchased securities of MetLife and would like to discuss your legal rights and how this case might affect your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-met/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 6, 2018.
About the Lawsuit
MetLife and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 29, 2018, MetLife disclosed “a material weakness in internal controls over financial reporting” that caused reserves to be reduced incorrectly relating to outstanding payouts for annuity and pension recipients and that its Q4 earnings release was postponed, with reserves expected to increase by $525 million to $575 million, Q4 earnings to decrease by $135 million to $165 million, and 2017 profits cut by $165 million to $195 million. MetLife also revealed a SEC investigation into the outstanding pension payments matter.
On this news, the price of MetLife’s shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
Source:Kahn Swick & Foti, LLC