SOURCE: Shareholders Foundation

Shareholders Foundation

September 11, 2012 09:35 ET

Prudential Financial Inc. (PRU) Investor Lawsuit Over Alleged Securities Laws Violations Announced by Shareholders Foundation

SAN DIEGO, CA--(Marketwire - Sep 11, 2012) - The Shareholders Foundation, Inc. announces that a lawsuit was filed by an investor in Prudential Financial Inc. (PRU) shares over alleged securities laws violations by Prudential Financial Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Prudential Financial Inc (PRU) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

According to the complaint, the plaintiff alleges that between May 5, 2010 and November 2, 2011 defendants issued allegedly materially false and misleading statements concerning the Company's current and future financial condition, including its reserves and its potential liability to policyholders, their beneficiaries or relevant state authorities for millions of dollars in benefits that should have been paid out to policyholders or escheated to the states, and the extent of the Company's exposure to claims of state and federal law violations.

On August 5, 2011, Prudential Financial said in a SEC filing that the Company is currently being examined by a third party auditor on behalf of 33 U.S. jurisdictions for compliance with the unclaimed property laws of these jurisdictions and that the company is among the several companies that had been subpoenaed by the NY Attorney General regarding its unclaimed property procedures. On November 2, 2011, Prudential Financial reported its third quarter fiscal 2011 financial results.

PRU shares fell from $57.30 per share on October 28, 2011 to $44.91 per share on November 25, 2011.

Those who purchased shares of Prudential Financial Inc (PRU), have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Contact Information

  • CONTACT:
    Shareholders Foundation, Inc.
    Trevor Allen
    +1 (858) 779-1554
    mail@shareholdersfoundation.com
    3111 Camino Del Rio North
    Suite 423
    San Diego, CA 92108