NEW YORK, NY - 
(NewMediaWire) - May 10, 2024 - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) reminds investors that a complaint has been filed on behalf of purchasers or acquirers of Lincoln National Corporation (“Lincoln National” or the “Company”) (NYSE: LNC) securities between November 4, 2020 and November 2, 2022 (the “Class Period”). Click Here to Join Investigation.
Deadline Reminder: If you are a member of the proposed Class, you may move the court no later than June 24, 2024 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
On November 2, 2022, after the market closed, Lincoln National released its third quarter 2022 financial results, reporting a net loss of $2.6 billion for the quarter. This was compared to net income of $318 million for the third quarter of 2021 the previous year. Lincoln National stated that "[t]he current quarter's adjusted operating results included net unfavorable notable items of $2.0 billion, or $11.62 per share, related to the company's annual review of DAC [Deferred Acquisition Costs] and reserve assumptions." The Company also disclosed that it "incurred a $634 million goodwill impairment to the life insurance business."
Following this news, Lincoln National's stock price fell $17.27 per share, more than 33%, to close at $34.83 per share on November 3, 2022.
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If you have any questions about this Notice, your rights, or your interests, please contact:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
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Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
