NEW ORLEANS--(BUSINESS WIRE)--ClaimsFiler, a FREE shareholder information service, reminds investors that they have until April 6, 2018 to file lead plaintiff applications in a securities class action lawsuit against MetLife, Inc. (NYSE: MET), if they purchased the Company’s securities between February 27, 2013 and January 29, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of New York.
MetLife investors should visit us at https://www.claimsfiler.com/cases/view-metlife-inc-securities-litigation-1 or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
MetLife and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 29, 2018, MetLife disclosed “a material weakness in internal controls over financial reporting” that caused reserves to be reduced incorrectly relating to outstanding payouts for annuity and pension recipients and that its Q4 earnings release was postponed, with reserves expected to increase by $525 million to $575 million, Q4 earnings to decrease by $135 million to $165 million, and 2017 profits cut by $165 million to $195 million. MetLife also revealed a SEC investigation into the outstanding pension payments matter.
On this news, the price of MetLife’s shares plummeted.
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