LINCOLN ALERT: Bragar Eagel & Squire, P.C. is Investigating Lincoln National Corporation on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

Core Viewpoint - Lincoln National reported a significant net loss of $2.6 billion for Q3 2022, a stark contrast to a net income of $318 million in Q3 2021, primarily due to unfavorable adjustments and a goodwill impairment in its life insurance business [1]. Financial Performance - The company’s adjusted operating results included net unfavorable notable items amounting to $2.0 billion, equating to $11.62 per share, linked to the annual review of Deferred Acquisition Costs (DAC) and reserve assumptions [1]. - A goodwill impairment of $634 million was specifically noted for the life insurance segment [1]. Stockholder Actions - Following the financial results announcement, Lincoln's stock price plummeted by $17.27, or 33.2%, closing at $34.83 per share on November 3, 2022, amid unusually high trading volume [6]. Legal Investigations - A class action complaint was filed against Lincoln National on April 23, 2024, concerning potential breaches of fiduciary duties by the board of directors during the Class Period from November 4, 2020, to November 2, 2022 [3]. - The complaint alleges that the company made materially false and misleading statements and failed to disclose critical adverse facts regarding its business operations, particularly in its Variable Universal Life (VUL) business and the overstatement of goodwill and reserves [4].