LNC STOCKHOLDERS – Contact Robbins LLP for Information About Pending Lead Plaintiff Deadline in Lincoln National Corporation Class Action

Core Viewpoint - A class action lawsuit has been filed against Lincoln National Corporation for allegedly misleading investors regarding its Variable Universal Life (VUL) business, leading to overstated financial results and reserves [2][3]. Group 1: Allegations - The lawsuit claims that during the class period, Lincoln National failed to disclose a decline in its VUL business [2]. - It is alleged that the goodwill associated with the life insurance business was overstated as a result of this decline [2]. - The company's policy lapse assumptions were outdated, leading to further misstatements in financial reporting [2]. - Consequently, the company's reserves were also overstated, impacting the accuracy of reported financial results [2]. Group 2: Impact on Stock Price - Following the revelation of these issues in the third quarter 2022 financial results, Lincoln National's stock price dropped by $17.27, or 33%, closing at $34.83 per share on November 3, 2022 [3]. Group 3: Class Action Participation - Shareholders interested in participating in the class action must file motions by June 18, 2024, to serve as lead plaintiff [4]. - It is noted that shareholders do not need to participate in the case to be eligible for recovery [4]. Group 4: About Robbins LLP - Robbins LLP is a law firm specializing in shareholder rights litigation, having recovered over $1 billion for shareholders since its inception in 2002 [5].