HENDERSONVILLE, TN / ACCESSWIRE / December 1, 2019 / The Law Offices of Timothy L. Miles, a national shareholder rights firm who has been leading the fight to protect shareholder rights for over 18 years, announces that a purchaser of Prudential Financial, Inc. (PRU) filed a class action complaint against Prudential on behalf of purchasers of Prudential securities between February 15, 2019 and August 2, 2019. The complaint alleges violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Prudential provides a wide range of insurance, investment management, and other financial products and services to both individual and institutional customers throughout the United States and in many other countries.
Prudential Accused of Misleading Shareholders
According to the Complaint, the Company made false and misleading statements to the market. Prudential failed to account for worsening mortality experience in its individual life business segment when making its reserve assumptions. Far from being over-reserved, the Company did not have sufficient reserves to pay future policy benefits. The Company overstated net income on the basis of flawed assumptions and calculations. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Prudential, investors suffered damages.
Prudential Shareholders Urged to Contact the Firm
If you purchased Prudential securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-738, Toll-Free at 855-846-6529, or by email to firstname.lastname@example.org. If you inquire by email please include your mailing address, telephone number, and the number shares owned.
About Timothy L. Miles
Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell® and ALM as a 2019 Top Ranked Lawyer; 2019 Top Rated Litigator; and a 2019 Elite Lawyer of The South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Awards: Top Rated Litigator by Martindale-Hubbell® and ALM (2019); 2019 Elite Lawyer of The South by Martindale-Hubbell® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV® Preeminent™ Rating by Martindale-Hubble® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for 2017 & 2018 (Avvo).
SOURCE: The Law Offices of Timothy L. Miles
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