NEW YORK, Oct. 18, 2012 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of investors who purchased Prudential Financial, Inc. ("Prudential" or the "Company") (NYSE:PRU) stock between May 5, 2010 and November 2, 2011.
For more information, click here: http://zlk.9nl.com/prudential-financial-pru/. There is no cost or obligation to you.
The complaint alleges that defendants' disclosures during the class period were materially false and misleading in that defendants knew or recklessly disregarded that the Company had not adequately reserved for the payment of benefits to policyholders' beneficiaries when it knew or had reason to know the policyholders were deceased. As a result of these allegedly false disclosures, the Company's financial results for its operating earnings or income during the class period are alleged to be false.
On August 5, 2011, the Company announced it was under investigation by an auditor concerning unclaimed property laws; the Company further acknowledged it had been subpoenaed by the New York Attorney General. Then on November 2, 2011, Prudential reported its third quarter fiscal 2011 financial results. The filing noted a $99 million charge to increase reserves related to the Company's death benefits practices.
If you suffered a loss in Prudential you have until October 22, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/prudential-financial-pru.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP