Lincoln National Corporation Investors: Class action lawsuit filed on behalf of investors; the Portnoy Law Firm

The lawsuit further alleges that on November 2, 2022, Lincoln National reported a net loss of $2.6 billion for the third quarter of 2022, compared to a net income of $318 million for the same period in 2021. Lincoln National attributed this to net unfavorable notable items of $2.0 billion, or $11.62 per share, related to the company's annual review of deferred acquisition costs and reserve assumptions. The company also disclosed a $634 million goodwill impairment to the life insurance business. Following th ...