Press release from Business Wire
Glancy Binkow & Goldberg LLP Announces Investigation of Prudential Financial, Inc.
Thursday, August 30, 2012
Glancy Binkow & Goldberg LLP Announces Investigation of Prudential Financial, Inc.17:48 EDT Thursday, August 30, 2012 LOS ANGELES (Business Wire) -- Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of purchasers of the common stock of Prudential Financial, Inc. (“Prudential” or the “Company”) (NYSE:PRU) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company between May 5, 2010 and November 2, 2011 were false and misleading concerning Prudential's financial condition and future prospects. Prudential, through its subsidiaries, provides various financial products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management services in the United States, Asia, Europe and Latin America. The investigation is related to allegations that during the foregoing period the Company misrepresented or failed to disclose that: (1) the Company had not properly or adequately reserved for the payment of benefits to policyholders' beneficiaries when it knew or had reason to know the policyholders were deceased; (2) the Company's historical processes, policies and procedures were inadequate to identify current liabilities related to deceased policyholders whose beneficiary claims had not yet been made; (3) the Company's financial results and guidance for its operating earnings or income during the foregoing period were false; and (4) the Company knowingly failed to reserve for losses it had already incurred. If you purchased Prudential common stock between May 5, 2010 and November 2, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Glancy Binkow & Goldberg LLP, Los Angeles, CAMichael Goldberg(310) 201-9150 or (888) firstname.lastname@example.org