Lincoln(US:LNC) prnewswire.comยท2024-05-29 09:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Lincoln National Corporation regarding a class action lawsuit due to alleged misleading statements and omissions related to the company's financial health during a specified period [1][2]. Group 1: Allegations - The complaint alleges that during the class period from November 4, 2020, to November 2, 2022, Lincoln National Corporation made materially false and misleading statements [1]. - Specific allegations include a decline in the variable universal life insurance business, overstated goodwill, outdated policy lapse assumptions, and overstated reserves [1]. - As a result of these issues, the company's reported financial results and statements were misstated, leading to misleading positive statements about its business and prospects [1]. Group 2: Class Action Details - Shareholders who purchased shares of Lincoln National Corporation during the class period are encouraged to register for the class action, with a deadline of June 24, 2024, to seek lead plaintiff status [2]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the lifecycle of the case [2]. - Participation in the case incurs no cost or obligation for the shareholders [2]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [3].