An investigation on behalf of current long term investors in Prudential Financial Inc (NYSE:PRU) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE:PRU stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/05/2012 -- Certain directors and officers of Prudential Financial Inc are under the investigation over possible breaches of fiduciary duties in connection with certain financial statements made by Prudential Financial Inc.
Investors who are current long term investors in Prudential Financial Inc (NYSE:PRU) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm on behalf of current long-term investors in Prudential Financial Inc (NYSE:PRU) stocks follows a lawsuit filed in August 2012 against Prudential Financial Inc over alleged Securities Laws Violations.
The investigation on behalf of current long term investors in NYSE:PRU stocks concerns whether certain Prudential Financial Inc officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. U.S. District Court for the District of New Jersey the plaintiff alleges that Prudential Financial Inc (NYSE:PRU) violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements concerning the Company’s current and future financial condition, including its reserves and its potential liability to policyholders, their beneficiaries or relevant state authorities for millions of dollars in benefits that should have been paid out to policyholders or escheated to the states, and the extent of the Company’s exposure to claims of state and federal law violations.
On August 5, 2011, Prudential Financial Inc said in a filing with the Securities and Exchange Commission (“SEC”) that the Company is currently being examined by a third party auditor on behalf of 33 U.S. jurisdictions for compliance with the unclaimed property laws of these jurisdictions and that the company is among the several companies that had been subpoenaed by the New York Attorney General regarding its unclaimed property procedures.
Then on November 2, 2011, Prudential Financial Inc reported its third quarter fiscal 2011 financial results, including third quarter 2011.
NYSE:PRU shares fell from $57.30 per share on October 28, 2011, to $44.91 per share on November 25, 2011.
On September 4, 2012, NYSE:PRU shares closed at $54.63 per share.
Those who are current long term investors in Prudential Financial Inc (NYSE:PRU) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
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